Largely regarded as the most conservative amongst its peers, the International Commercial Bank (ICB) today published a handsome Profit Before Tax(PBT) of six billion Leones (Le6,064,929,000).
This is some one hundred and forty three million Leones (Le142.8million) less than the bank made in 2012 (Le,207,729,000).
The Banks loans and advances to customers grew by Le299million (Le299,156,000) from Le31.3billion in 2012 to Le31.6billion in 2013.
Deposits from customers also improved by Le3.5billion, from Le55.7billion in 2012 to Le59.3billion in 2013.
The net fee and commission income also grew by Le167million from Le1.11billion in 2012 to Le1.28billion in 2013.
The banks paid up capital as at 31st December 2013 was Le27.4billion which is Le408million above the Central bank required minimum paid up capital of Le27billion.
When converted using the average commercial bank selling rate for the dollar of Le4,300, ICBs profit before tax is about $1.41million
Friday June 13, 2014