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National Bank posts Sh. 2.43 billion in full year profits

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National Bank has recorded a profit before tax of Sh 2.43 billion, 34 percent up from the sh 1.81 billion posted in the same period last year.

The positive results have been attributed to improved revenues from balance sheet growth, cost management and better management of credit risk.

Total operating income grew by 17 percent to Sh 9.93 billion from Sh 8.50 billion in 2013.

Loans and advances pushed up Interest income by 31percent to sh 10.70 billion from Sh 8.17 billion.

During the same period total operating expenses increased marginally by 9 percent from Sh 6.40 billion in 2013 to Sh 6.98 billion.

Lending to customers rose by Sh 26.07 billion translating to a 66percent growth as customer deposits grew from Sh77.99 billion to Sh 104.73 billion a 34percent increase.

The Bank’s total assets increased by 33 per cent to Ksh. 123.09 billion in 2014 from Ksh. 92.56 billion as at 31 Dec 2013.

The Managing Director Adan Ahmed attributed the overall achievements to its five year strategic transformation program include a customer focused structure, new strategic business units and customer segments with enhanced customer service.

“In order to aggressively grow the business, we have tailored Customer Value Propositions (CVPs) for different customer segments, implemented a robust Sales Model and Product innovation. This includes a total of 260 Direct Sales Representatives (DSRs), 50 Relationship Managers (RMs) who engage our customers on a daily basis”, said Ahmed.

The Bank is constantly growing the Multi-channel distribution network that now stands at 76 branches of which 26 were setup in last two years.

The Bank also has strategic partnerships that provide customers with 1700 Agencies and an alliance network of 2500 ATMs.

National Bank posts Sh. 2.43 billion in full year profits Reviewed by on . National Bank has recorded a profit before tax of Sh 2.43 billion, 34 percent up from the sh 1.81 billion posted in the same period last year. The positive resu National Bank has recorded a profit before tax of Sh 2.43 billion, 34 percent up from the sh 1.81 billion posted in the same period last year. The positive resu Rating: 0

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