{"id":15340,"date":"2020-10-03T20:44:24","date_gmt":"2020-10-03T20:44:24","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=15340"},"modified":"2020-10-03T20:44:24","modified_gmt":"2020-10-03T20:44:24","slug":"cbk-reports-sh41b-surplus-on-foreign-exchange-gains","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-reports-sh41b-surplus-on-foreign-exchange-gains","title":{"rendered":"CBK reports Sh41b surplus on foreign exchange gains"},"content":{"rendered":"

Author: FRANKLINE SUNDAY\u00a0<\/strong>
\nAfricaPress-Kenya:<\/strong> Central Bank of Kenya (CBK) has reported Sh41 billion in net surplus for the year ended June 30, 2020, a 59 per cent increase from Sh26 billion recorded last year.<\/p>\n

The earnings include a\u00a0foreign exchange\u00a0gain of Sh24.4 billion, 378 per cent higher than the Sh5.1 billion reported at the end of June 2019. The one-off gain was attributed to the impact of a\u00a0strengthened US dollar\u00a0over the reporting period.<\/p>\n

Interest income stood at Sh22 billion, a marginal drop from Sh23.3 billion last year with non-interest income standing at Sh17.6 billion compared to Sh21 billion in 2019.<\/p>\n

\u201cInterest income of Sh22.3 billion declined due to lower rates offered on foreign deposit placements and a decline in fixed income yields respectively as a result of global monetary policy easing cycles,\u201d said CBK in a note accompanying the statement.<\/p>\n

Assets increased to Sh1.35 trillion from Sh1.23 trillion the previous year, mainly attributed to net inflows from development partners and changes in the value of securities maintained for\u00a0monetary policy implementation.<\/p>\n

The results further give an indication of the impact\u00a0Covid-19\u00a0has had on the country\u2019s financial sector this year, where the regulator was forced to intervene to lessen the impact.<\/p>\n

\u201cLiabilities increased to Sh1.1 trillion compared to Sh1.08 trillion as a result of a jump in deposits from banks and government largely attributed to proceeds to mitigate the impact of Covid-19,\u201d CBK said.<\/p>\n

The government took Sh47 billion on its\u00a0overdraft facility\u00a0and another Sh21 billion loan that brought the total to Sh68.9 billion owed to the CBK.<\/p>\n","protected":false},"excerpt":{"rendered":"

Author: FRANKLINE SUNDAY\u00a0 AfricaPress-Kenya: Central Bank of Kenya (CBK) has reported Sh41 billion in net surplus for the year ended June 30, 2020, a 59 per cent increase from Sh26 billion recorded last year. The earnings include a\u00a0foreign exchange\u00a0gain of Sh24.4 billion, 378 per cent higher than the Sh5.1 billion reported at the end of […]<\/p>\n","protected":false},"author":84,"featured_media":15342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[1155,2217,3688],"class_list":["post-15340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-cbk","tag-central-bank-of-kenya","tag-loans"],"yoast_head":"\nCBK reports Sh41b surplus on foreign exchange gains - kenya<\/title>\n<meta name=\"description\" content=\"Central Bank of Kenya (CBK) has reported Sh41 billion in net surplus for the year ended June 30, 2020, a 59 per cent increase from Sh26\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-reports-sh41b-surplus-on-foreign-exchange-gains\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBK reports Sh41b surplus on foreign exchange gains\" \/>\n<meta property=\"og:description\" content=\"Central Bank of Kenya (CBK) has reported Sh41 billion in net surplus for the year ended June 30, 2020, a 59 per cent increase from Sh26\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-reports-sh41b-surplus-on-foreign-exchange-gains\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-03T20:44:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/10\/cbk_reports_sh41b_su5f774ece090f9.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"471\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-reports-sh41b-surplus-on-foreign-exchange-gains#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-reports-sh41b-surplus-on-foreign-exchange-gains\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBK reports Sh41b surplus on foreign exchange gains\",\"datePublished\":\"2020-10-03T20:44:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-reports-sh41b-surplus-on-foreign-exchange-gains\"},\"wordCount\":266,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-reports-sh41b-surplus-on-foreign-exchange-gains#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/10\/cbk_reports_sh41b_su5f774ece090f9.jpg\",\"keywords\":[\"CBK\",\"Central Bank of Kenya\",\"Loans\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-reports-sh41b-surplus-on-foreign-exchange-gains#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-reports-sh41b-surplus-on-foreign-exchange-gains\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-reports-sh41b-surplus-on-foreign-exchange-gains\",\"name\":\"CBK reports Sh41b surplus on foreign exchange gains - 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