Barclays annual pretax profit dips 14pc
By Ruth Mutegi Barclays Bank of Kenya’s 2013 full year pretax profit dipped by 14% to 11.1 billion shillings on account of provision for bad-debts and a one-time reorganization cost. This is in comparison to the 13 billion shillings the bank posted in full year pretax profit in 2012. Barclays bank of Kenya proposed a reduced dividend payout of 70 cents per share, down from a shilling per share last year in order to build up capital in line with the central bank’s new requirements. The Central Bank published Prudential Guidelines which called on financial institutions to increase their capital. The guidelines were effective last year. Barclays bank of Kenya chief Financial Officer Yusuf Omari says the bank plans to invest more in its digital agenda going forward, simplify and enhance customer service experience, build brand visibility as well as secure new revenue streams.