ABC Bank’s Q3 Profit Drops to KSh 43.6 Million

ABC Bank’s Q3 Profit Drops to KSh 43.6 Million

ABC Bank Group’s profit declined fell from KSh 67.5 Million in the first nine months of 2018 to KSh 43.6 Million at the end of the third quarter of this year.

In its unaudited financials signed by Sridhar Natarajan, Chief Executive, and Joseph Muiruri, the Finance Director,  their balance sheet grew from KSh 25.9 Billion to KSh 27.8 Billion as at 30 Sept. 2019.  

HIGHLIGHTS

Net loans and advances to customers increased from KSh 15.3 Billion to KSh 15.9 Billion.

Customer Deposits increased from KSh 20.6 Billion in Q3 of 2018 to KSh 22.3 Billion.

Total Interest Income increased from KSh 2.1 Billion to KSh 2.3 Billion

Earnings from investment in Government securities increased from KSh 305.8 Million to KSh 317.9 Million.

Fees and Commissions on loans and advances to customers declined to Ksh 117.6 million from Ksh 117.6 million.

Total Non-interest Income grew to KSh 447.2 Million from KSh 311.9 Million.

Forex income increased from KSh 40.8 Million to KSh 63.7 Million.

The ABC Bank Group Companies comprise of: ABC Bank, ABC Capital Bank – Uganda, ABC Capital Limited (Stock Brokerage), and ABC Insurance Brokers Ltd.