Growth in profits was due to the following;
Growth in interest income from loans and advances to customers
Cost containment as expenses were flat compared in previous year.
Customer deposits grew much faster than loans and advances;bank needs to do a lot of marketing for its products
The cost to income ratio is at 51.59% compared to KCB at 50.2%
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle