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Family Bank’s Q1 net earnings up 27.2%

Family Bank Group’s net earnings for the quarter ended March 31, 2020, rose by 27.2 per cent on increased net interest income as business slowed by Covid-19 slowly recovered. Moreover, after the bank redeemed its five and a half years Medium Term Note worth about $18.6 million on April 19, the bank received formal approval from the Capital Markets Authority to float a $74.1 million bond to strengthen its capital base and support lending. Family Bank Chief Financial Officer, Stephen Ngugi joins CNBC Africa for more.

Wed, 09 Jun 2021 10:31:12 GMT
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