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primebankct.com

Stage

Acquired | Acquired

About Prime Bank

Prime Bank is a full-service bank located in Orange, CT.

Prime Bank Headquarter Location

7 Old Tavern Rd

Orange, Connecticut, 06477,

United States

203-799-1299

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Latest Prime Bank News

Prime Bank grows profits by 43pc to Sh3.02billion

Mar 29, 2022

Capital Business By The lender posted a Sh2.1 billion profit during the same period in the previous year. The growth was driven by increased income from investments in government securities, reduction in non-performing loans and cost efficiencies across its operations. Commenting on the results, the Bank’s Managing Director Bharat Jani said the tremendous growth was a result of investment in government securities which yielded Sh6.6 Billion representing a 15 per cent increase from Sh5.7 billion recorded in 2020. “The bank remains optimistic about its growth trajectory and stands resilient to the market dynamics,” said Bharat. The bank’s total deposits grew by 9pc to close the year at Sh97billion compared to Sh89billion recorded in 2020. The lender’s balance sheet expanded to Sh126 billion which was a 7 per cent growth from Sh116billion recorded in the previous year. The Bank’s liquidity ratio stood close to 80 per cent above the CBK’s statutory requirement of 20 per cent. The bank also maintained a strong capital adequacy position, ending the year with core capital of Sh24 billion against Central Bank of Kenya’s statutory requirement of Sh1 billion. Advertisement. Scroll to continue reading. “Going forward, the improved results signal a more energetic, renewed effort to do even better, especially as we celebrate 30 years of service to our customers this financial year,” added Bharat. 0

  • Where is Prime Bank's headquarters?

    Prime Bank's headquarters is located at 7 Old Tavern Rd, Orange.

  • What is Prime Bank's latest funding round?

    Prime Bank's latest funding round is Acquired.

  • Who are the investors of Prime Bank?

    Investors of Prime Bank include Patriot National Bancorp.

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