Financing deals push Gulf earnings to Sh212m
Gulf African Bank's net profit increased to Sh212.42 million from Sh191.60 million in the first half of 2018. It is a 10.86% growth after fees on financing deals quadrupled. Fees and commissions on financing arrangements surged 309.72% to Sh122.89 million from Sh29.99 million. Net profit income rose 7.46% to Sh1.01 billion after the value of the arrangements to customers jumped by a third year-on-year to Sh21.42 billion in June and 7.42% from last December.
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