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
Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.