NAIROBI, Kenya- Family Bank has reported a 15.4% rise in Profit Before Tax for the first quarter of 2025, reaching Sh1.5 billion compared to Sh1.3 billion in the same period last year.
The lender says the growth was primarily driven by increased interest income and expansion of its asset base.
Total assets grew by 19.2% to Sh174.0 billion, attributed to a 10.1% increase in the loan book to Sh96.2 billion and a 3.3% rise in investment in government securities.
Likewise, the bank’s interest income rose by 32.6% to Sh3.2 billion.
Interest income from government securities scaled up by 50.6%, while income from loans rose by 14.1%.
Similarly, the lender’s non-funded income was up 32.1%, supported by growth in customer transactions, higher uptake of products, and expanded digital services.
Over 90% of transactions during the period were conducted through digital platforms.
Customer deposits grew by 19.8% to Sh132.3 billion, supported by operational changes and ongoing investments in digital infrastructure.
On the flip side, its operating cost, however, increased by 41.5%, primarily due to a 59.6% rise in loan loss provisions and a 10.9% increase in staff costs.
The rise in staff costs was linked to operational adjustments and employee training.
