Banks signal another profit season
The bank has traded high volumes on the back of active foreign investor purchasing. Giro, Guardian banks grow earnings, signalling improved performance for sector. Investors anticipating good third quarter results from banks have been driving up demand for the shares of listed lenders.
The two banks are classified as small-tier lenders, which have traditionally lagged their mid-sized and large counterparts in profit growth. Their robust bottom-line growth is therefore a strong indication of improved performance for the whole industry.
Giro Bank’s profit growth was driven by a Sh210 million rise in total income for the lender, on the back of increased interest earnings from government securities. Guardian Bank’s double-digit profit growth from Sh110 million in the third quarter of last year to Sh212 million was also boosted by higher interest income from treasuries.... Read the full, comprehensive news article and discuss at Business Daily AfricaSimilar Stories