CFX Merchant Bank which was only turned around last year made a profit of $1.4 billion in the first half of this year, nearly 10 times what it made in the first half of last year and some $300 million more than the net profit for last year.
First Banking Corporation’s net profit for the six months to June was nearly treble that for last year and 13 times that of the first half last year.
The Merchant Bank of Central Africa saw its net profit for the six months to June increase from $946.3 million to $2.5 billion but it chose to report in inflation adjusted terms which saw net profit plunge from $2.8 billion to $21.9 million.
Although net income dropped by 16.9 percent from $295.9 million to $246.6 million, Rapid Discount House says its results were satisfactory.
Interfin Holdings, one of the most diversified financial services groups, which is into merchant banking, insurance, stockbroking, asset management and consumer financing, made a net profit of $12.7 billion in the first half of this year, up from only $847 million last year.
Stanbic Bank had a more than 10-fold increase in net profit in the first half of this year and it says that despite the current economic difficulties its future is bright.