Kina Bank records increased income

Kina Bank recorded a net interest income of K72.4 million for the full year.

This is up 11 percent from the previous corresponding period.

In its 2017 Full Year Result, Kina Bank said this was achieved by driving loan book growth while ensuring careful management of cost of funds and yield on interest earning assets.

Interest income from investments grew by 17 percent or K2.8m, while interest income on loans grew by 32 percent or PGK19.3m.

In 2017, bank fees and commissions income grew by 11 percent, reflecting growth in lending and retail customer segments.

This assisted in cushioning the impact of the drop in foreign exchange income.

Cedric Patjole