NIC nine month profit jumps 33%

NIC Bank posted a 33 per cent increase in pretax profit for the first nine months of this year to Sh3.43 billion, the mid-tier bank said. NIC Bank, which also operates in Uganda and Tanzania, attributed the earnings growth to a rise in both net interest income and non-interest income, which includes commissions, fees and earnings from trading activities. The bank's net interest income rose by Sh1 billion to just under Sh4 billion, while non-interest income increased by half a billion shillings to Sh2.21 billion...