Natbank Trustee Records 34% Growth on Profit After Tax in 2021
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- March 24, 2022
Natbank Trustee and Investment Services Limited (Natbank), a wholly-owned subsidiary of the National Bank of Kenya Limited, has announced a profit after tax of KShs 23.47 million during the 12 months ended 31 December 2021 up 34% compared to a similar period in 2020.
The performance was underpinned by rising management fees in line with the 30% growth in assets under management during the year under review.
Natbank Trustee & Investment Services Head & Principal Officer, Victor Odendo said:
“Despite a challenging year, we achieved impressive funds and earnings growth. The growth mirrors our continued commitment towards delivering solutions that resonate with our clients.”
The Principal Officer added that Natbank would continue to review opportunities in high growth areas of the business.
“Looking into 2022, we intend to dedicate our resources to enriching our range of investment products to make them attractive and accessible to both existing and potential investors.
Further, the rollout of our improved ICT platform will significantly serve to enhance our service delivery and the customer experience in line with the Group’s digital leader and digital to the core agenda” said Mr. Odendo.
“Our primary ambition is to differentiate our offering by way of realigning ourselves towards delivering an unparalleled investment proposition to all our clients supported by superior customer experience. We will therefore continue to operate as a responsible brand and we will discharge our professional mandate for the best interest of our clients.’’
Natbank offers a variety of products and services tailored to meet clients’ demands and risk profiles.
The private wealth management services are available to private investors who would like to have a unique portfolio that best suits their investment needs. We also extend our services to the pensions sector through segregated fund management and also easier access to our registered retirement benefits schemes is the Natbank umbrella fund, the Natbank individual pension plan and the Natbank income drawdown to help clients build wealth for their retirement.
Natbank recently received regulatory approval to offer unit trust products consisting of equity fund, balanced fund, bond fund and money market fund.
