K-Rep Bank has announced a 15 per cent drop in net income to Sh281 million for the third quarter ending September 30 compared to the same period last year.
The subsidiary of Centum said its interest income rose to Sh1.26 billion from Sh1.22 billion even as interest expenses rallied 30 per cent to Sh728 million.
Analysts at Standard Investment Bank said the bank was negatively affected by the tight liquidity conditions within the quarter as well as negative sentiment following the closure of Dubai and Imperial Bank.
K-Rep, Almasi lift Centum profits 55pc
SOURCE: BUSINESS DAILY