Commercial banks earned Sh379.6 billion in profit last yearThe total interest earned by commercial banks in 2018 rose by 30.7 per cent from Sh368.2 billion in 2017 to Sh379.6 billion, a new survey reveals.This growth was mainly driven by interest from an investment in government securities which increased by 13.4 per cent in the review period. Insurance activities slowed down to 5.2 per cent growth in 2018 from 6.5 per cent in 2017. The sector expanded by 5.6 per cent in 2018 compared to 2.8 per cent in 2017. During the review period, domestic credit rose by 4.6 per cent in 2018 compared to 8.7 per cent in 2017. Similarly, credit to the private sector expanded by 1.9 per cent in 2018 compared to 4.1 per cent growth in 2017.

Source: Standard Digital April 26, 2019 07:41 UTC