NAIROBI, Kenya, Aug 24 – UBA Bank Kenya has posted an 89 percent decline in net profit for the first six months of 2017 to hit Sh7 million compared to Sh68 million profit made same period last year.
Customer deposits went down by 28 percent to Sh70 million from Sh91 million posted in June 2016.
Total Interest income increased marginally to Sh268 million from Sh262 million recorded same period last year while the loan book hit Sh176 million up from Sh153 million last year.
The half year saw almost all banks record decreased profits owing to a tough half year that saw investors pull a wait and see attitude due to the August General Election and Interest Rates capping.
