{"id":4051,"date":"2022-05-27T15:10:02","date_gmt":"2022-05-27T12:10:02","guid":{"rendered":"https:\/\/familybank.co.ke\/family-bank\/?p=4051"},"modified":"2022-06-02T16:09:57","modified_gmt":"2022-06-02T13:09:57","slug":"family-bank-records-kes-1-1-billion-profit-before-tax-for-the-first-quarter-of-2022","status":"publish","type":"post","link":"https:\/\/familybank.co.ke\/?p=4051","title":{"rendered":"Family Bank Records KES 1.1 Billion Profit Before Tax for the First Quarter Of 2022"},"content":{"rendered":"<p>Family Bank \u201cThe Group\u201d has recorded a KES 1.05 billion <a href=\"https:\/\/en.wikipedia.org\/wiki\/Earnings_before_interest_and_taxes\" target=\"_blank\" rel=\"noopener\">Profit Before Tax<\/a> for the first three months of 2022, marking a 43.7% growth in earnings up from KES 728.8 million recorded in March 2021.<\/p>\n<p>The growth was primarily driven by <a href=\"https:\/\/en.wikipedia.org\/wiki\/Net_interest_income\" target=\"_blank\" rel=\"noopener\">Net interest income<\/a> which increased by 13.5 % to KES. 2.05 billion. Operating expenses registered a 4% reduction to Kes 1.72 Billion. This was supported by a reduction in loan loss provisions reflecting an improvement in the economy and customer\u2019s ability to service their loans and a reduction in the overall operating expenses from the operational efficiencies from continued investments in technology.<\/p>\n<p>Commenting on the results the Bank\u2019s Chief Executive Officer, Rebecca Mbithi noted that total assets continue to grow at KES 122.3 billion, a 28.9% increase from similar period last year. The growth was driven by the continued expansion of the Bank\u2019s loan book to KES 72.6 billion and investments in government securities owing to improved liquidity, efficiency and capital. Customer deposits closed at Kes 89.4 Billion up from Kes 72.6 Billion in March 2021.<\/p>\n<p>\u201cThis strong growth is a clear demonstration of the Bank\u2019s ability to continue supporting customers in the key segments which we serve.\u00a0 As a Bank, we continue to be guided by our five-year strategy and we remain focused on our transformation program to optimally gain size, scale up efficiently as we seek to build an ecosystem that drives value to our customers,\u201d she concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Family Bank \u201cThe Group\u201d has recorded a KES 1.05 billion Profit Before Tax for the first three months of 2022, marking a 43.7% growth in earnings up from KES 728.8 million recorded in March 2021. The growth was primarily driven by Net interest income which increased by 13.5 % to KES. 2.05 billion. Operating expenses [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3401,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsfeed"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Family Bank KES 1.1 Billion Profit Before Tax for the First Quarter Of 2022<\/title>\n<meta name=\"description\" content=\"Family Bank \u201cThe Group\u201d has records KES 1.1 billion Profit Before Tax for the first quarter of 2022 .\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/familybank.co.ke\/?p=4051\" \/>\n<meta property=\"og:locale\" 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