(Ecofin Agency) - Kenyan NIC Bank stated in a release published on November 25, it has gained 5.14 billion shillings ($50.43 million) in pre-tax profit during 2015’s first nine months, a result which is 8.5% more than that for the same period the previous year.

The credit institution which has assets in Uganda and Tanzania also said that its net interest return was 7 billion shillings whilst its share profit reached 5.61 shillings between January 1 to September 30 during the current year against 5.58 shillings for the same period in 2014.

In December 2014, NIC Bank raised about 2.1 billion shillings (23.2 million USD) to increase its capital. Few months earlier, the institution listed on Nairobi Securities Exchange issued a bond of $57 million and obtained a loan of $50.1 million from International Finance Corporation (IFC).