Banks in east Africa's biggest economy have reported higher earnings for the first three months of this year, buoyed by the growth of lending on the back of a robust economy in the region.
CFC Stanbic, which is controlled by South Africa's Standard Group, said on Tuesday its net interest income increased to 1.75 billion shillings as interest paid on deposits tumbled after policymakers cut lending rates.
Earnings per share rose to 5.94 shillings from 4.66 shillings in the year-ago period, CFC Stanbic said.
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