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ETATS FINANCIERS 2017 BOA-KENYA

In 2017, BANK OF AFRICA - KENYA (BOA-KENYA) recorded a net profit of KES 67.6 million compared to a net profit of KES 10.4 million in 2016. The key drivers of the improved performance were as follows:
- Profit after tax grew by 544% from Kes10.4m in 2016 to Kes 67.6m in 2017 largely attributed to increased trading income (Kes 510 in 2017 vs. Kes 257 in 2016) as well as increased income from investments in associates (Kes 229 in 2017 vs. Kes 136 in 2016).
- Further, fees and commission income increased from Kes 681m in 2016 to Kes 704m in 2017 attributed to an increase in facility processing fees. The impact of increased non-funded income was however reduced by decreased net interest income due to reduced interest income from loans and advances after introduction of interest rate capping in September 2016.

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