However, with deposits also tripling from Sh78 million to Sh230.8 million, the expenses of holding such deposits increased. The Kajiado County-based microfinance grew its interest on loan portfolio by 95 per cent to Sh13.4 million to lift its total income to Sh18.6 million. This is despite growing its total income from Sh17.2 million to Sh20.2 million. “The proposal is to have the minimum capital requirements for all microfinance banks increased for both existing MFBs and new entrants,” CBK said. While its total income grew by Sh31 million to Sh231.6 million, expenses ate into this gain.

Source: Standard Digital April 24, 2018 09:59 UTC