{"id":8132,"date":"2020-05-20T18:59:14","date_gmt":"2020-05-20T18:59:14","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=8132"},"modified":"2020-05-20T18:59:14","modified_gmt":"2020-05-20T18:59:14","slug":"cost-management-lifts-national-bank-profit-to-sh155m-suspends-crb-listings","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/cost-management-lifts-national-bank-profit-to-sh155m-suspends-crb-listings","title":{"rendered":"Cost management lifts National bank profit to Sh155m, suspends CRB listings"},"content":{"rendered":"<p><strong>AfricaPress-Kenya:<\/strong> The National Bank of Kenya (NBK) has posted Sh155million in profit after tax for the first quarter of 2020 ending March, representing a 134 per cent increase from a similar period last year.<\/p>\n<p>The performance from Sh66million previous year was driven by a growth in the loan book and cost management initiatives.\u201cWe have made significant gains in turning around the business.<\/p>\n<p>Our recovery momentum has however been slowed down by the disruption of global economies by the COVID-19 pandemic, but we are continually innovating to mitigate its impact on the business,\u201d Managing Director, Paul Russo said..<\/p>\n<p>The Bank\u2019s total operating income for the quarter grew by 6.7 per cent to Sh2.3billion, driven by increased interest income and fees and commissions.Operating costs remained relatively flat on cost management, absorbing further investments in new branches, digital channels and systems for operational efficiency.<\/p>\n<p>During the quarter, the Bank\u2019s balance sheet strengthened, to stand at Sh113.8billion. Customer deposits grew to Sh 92billion, compared to Sh 89.5billion in first quarter of last year. Loans and advances also increased by Sh1.9billion to Sh47.8billion, with the boost in operations from the Sh5billion capital injection from KCB Group Plc.<\/p>\n<p>Following the pandemic, NBK has taken measures to cushion customers from its negative impacts. This includes restructuring customer loans, in addition to suspending listing on the credit reference bureau and waiver of fees charged on use of digital channels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AfricaPress-Kenya: The National Bank of Kenya (NBK) has posted Sh155million in profit after tax for the first quarter of 2020 ending March, representing a 134 per cent increase from a similar period last year. The performance from Sh66million previous year was driven by a growth in the loan book and cost management initiatives.\u201cWe have made [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":8127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[1839,3661],"class_list":["post-8132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-crb","tag-national-bank-of-kenya"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cost management lifts National bank profit to Sh155m, suspends CRB listings - kenya<\/title>\n<meta name=\"description\" content=\"The National Bank of Kenya (NBK) has posted Sh155million in profit after tax for the first quarter of 2020 ending March, representing a 134\" \/>\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\/cost-management-lifts-national-bank-profit-to-sh155m-suspends-crb-listings\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cost management lifts National bank profit to Sh155m, suspends CRB listings\" \/>\n<meta property=\"og:description\" content=\"The National Bank of Kenya (NBK) has posted Sh155million in profit after tax for the first quarter of 2020 ending March, representing a 134\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/cost-management-lifts-national-bank-profit-to-sh155m-suspends-crb-listings\" \/>\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=\"2020-05-20T18:59:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/05\/arsurynadwzs5ec53d0fa71d2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"542\" \/>\n\t<meta property=\"og:image:height\" content=\"361\" \/>\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\/cost-management-lifts-national-bank-profit-to-sh155m-suspends-crb-listings#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cost-management-lifts-national-bank-profit-to-sh155m-suspends-crb-listings\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Cost management lifts National bank profit to Sh155m, suspends CRB listings\",\"datePublished\":\"2020-05-20T18:59:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cost-management-lifts-national-bank-profit-to-sh155m-suspends-crb-listings\"},\"wordCount\":251,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cost-management-lifts-national-bank-profit-to-sh155m-suspends-crb-listings#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/05\/arsurynadwzs5ec53d0fa71d2.jpg\",\"keywords\":[\"CRB\",\"National Bank of Kenya\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/cost-management-lifts-national-bank-profit-to-sh155m-suspends-crb-listings#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cost-management-lifts-national-bank-profit-to-sh155m-suspends-crb-listings\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cost-management-lifts-national-bank-profit-to-sh155m-suspends-crb-listings\",\"name\":\"Cost management lifts National bank profit to Sh155m, suspends CRB listings - 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