The bank reported profit before tax of Sh9.2 billion, down 36 percent year-on-year. Customer deposits stood at Sh172billion.
Citibank started serving clients in Kenya in 1974 under the name “The First National Citi of New York” and has since become the eighth largest commercial bank in the country as measured by assets in a 2010 banking industry survey.
But compared to their peers the foreign banks are lagging behind as KCB, Equity Bank and Cooperative Bank topping the list in terms of earnings and asset base.
KCB posted net profit of Sh19.6 billion with asset base standing at Sh490 billion as at December 2015.
During the period under review, the bank handled Sh31 billion in agency transactions up from Sh14 billion in 2014. Agency transactions hit 7.5 million from 3.2 million in 2014 representing 134 percent rise.
Customer deposits stand at Sh424.4 billion a 12 percent rise from Sh377 billion in recorded in 2014.
Equity’s agency banking transactions increased by 35 percent in the period under review to reach 51.3 million transactions valued at Sh341.5 billion while transactions on its mobile banking platform Equitel increased by 1000 percent to hit 151 million transactions valued at Sh114.9 billion.
The bank reported Sh17 billion net profit for the period.
Co-operative Bank of Kenya’s pre-tax profit rose to Sh15.38 billion in 2015, compared with Sh10.92 billion a year earlier.
Barclays PLC announced that it will reduce its interest in Barclays Africa Group to a non-controlling stake in the next two to three years.
The firm had stated that Africa was becoming a costly distraction owing to the devaluation of the South African Rand, and extra risks of corruption and misconduct in Africa which would tarnish the entire African operation if something was to go wrong.
The firm now wants to refocus on its core United Kingdom and United States markets.
Meanwhile, Barclays Africa has assured the market that business will run as usual despite the announcement.
