Nairobi, Aug. 31 -- Stockbrokers and investment banks nearly tripled their revenue in the first half of this year, lifted by Faida Investment Bank's transaction fees from the Kenya Pipeline Company's initial public offering (IPO) and Standard Investment Bank's Mansa X Fund fees.

A Business Daily analysis of the industry financials shows that the market intermediaries collectively booked income of Sh9.88 billion in the six months to June, up from Sh3.7 billion they booked in the same period a year earlier.

The higher revenue resulted in a tripling of the industry's net profits to Sh3.59 billion from Sh1.15 billion, offering owners of brokerage firms and investment bankers juicy dividends.

The Nairobi Securities Exchange (NSE) also repor...