Giant lender’s profits drop in six months

The prospects for growth in the banking industry seem bright as majority of the top players record profits towards the end of the year.

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>Exim Bank Group’s second-quarter pretax profit rose by 80 per cent to Sh9.6 billion.

>The profit before tax for the National Bank of Commerce (NBC) rose by 122 per cent during the year ending June 2014, the financial entity’s results show.

The new managing director for the National Bank of Commerce (NBC), Mr Edward Marks, has officially reported for duty, promising to scale-up the profitability of the financial entity to new levels.

A police officer shot dead by a colleague, who also took his own life on Wednesday PC Petro Matiko, 26, engaged in money lending business, according to some police officers who worked with him.

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Tanzanians will have to wait longer before they start benefiting from revenues generated from the explored natural gas, Tanzania Development and Production International (TDPI) country manager, Mr Oystein Michelsen said yesterday.

TPS Eastern Africa, the owner of Serena Hotels and Lodges, reported first half of the year after-tax profit down by almost three quarters on Thursday, saying the Kenyan tourist business had been hurt by a spate of militant attacks and travel warnings by several Western nations.