Bloomberg News

NIC Bank of Kenya Set for Biggest Jump in a Week on Earnings

November 25, 2011

Nov. 25 (Bloomberg) -- NIC Bank Ltd., a Kenyan lender, headed for the biggest gain in more than a week after reporting a 29 percent jump in net income for nine months to Sept. 30.

The stock rose 1.9 percent to 27.50 shillings as of 11:32 a.m. in Nairobi, snapping six days of declines.

Profit rose to 1.77 billion shillings ($20 million) as income from loans advanced 25 percent, according to a statement e-mailed by the Nairobi Securities Exchange yesterday.

--Editors: Linda Shen, Tim Farrand

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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