Chase Bank Annual 2011 Financials
Date:
Thu, 29 Mar 2012 Chase Bank has reported a 58 percent increase in profit after tax from Kenya Shillings 381 million in 2010 to 602 million in 2011.
The Bank continues to strengthen its presence countrywide through an aggressive expansion strategy and will open additional branches in Kisii and Meru amongst other major towns in the country in its journey to become a strong Kenyan brand.
An aggressive sales and branch expansion strategy saw to a 47 percent increase in customer deposits from Kenya Shillings 16.9 billion in December 2010 to 24.8 billion at the close of 2011. Similarly, the balance sheet grew by 67% to stand at 36.5 billion from 21.9 billion the previous year. Total Shareholders’ funds grew consistently to 73% to settle at 2.9 billion at the end of 2011.
