CFC Stanbic Bank Records 58 per cent Jump in Pretax Profit

CFC Stanbic Bank posted a 58 per cent increase in pretax profit to Kes
1.16 billion for the half year ended June, on the back of a recovery
in economic growth. Total assets rose by morf than 25 per cent
according to the bank.
The bank said its earnings per share rose to Kes 5.94 from Kes 4.04 in
the first half of 2009.

CFC said its total assets increased by 27.6 per cent during the period
to Ksh 102.49 billion from Ksh 80.33 billion previously while net
loans and advances to clients increased by 9 per cent to Ksh 48.46
billion.

Its net interest income decreased to Ksh 1.82 billion from Ksh 1.85 in
the first six months of 2009. Loan loss provisions decreased to Ksh
285.2 million from Ksh 295.35 million.