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Barclays Bank of Kenya CEO Jeremy Awori. PHOTO | BUSINESS DAILY AFRICA
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Barclays Bank of Kenya (BBK) saw its net profit remain flat at Sh8.4 billion in the year ended December as costs kept up with earnings from lending and transactions.
The company declared a final dividend of Sh0.8 per share, to be paid on April 29, bringing the total payout to Sh1 per share and same as last year.
“This year’s growth was impacted by volatility in the macroeconomic environment as a result of fluctuating interest rates and a weakening shilling which had an effect on the bank’s trading book,” Barclays said in a statement.
“This is in addition to an increase in impairment charges due to external shocks and a reduction in margins due to the rising cost of funds.”
This article was first published on Business Daily Africa
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