Standard Chartered Bank Q1 net profit up 45.7% to Ksh.4 billion

Standard Chartered Bank Kenya saw its quarter one financial gain, when it posted a 45.7 percent increase in net profit to Ksh.4 billion.

Total revenues rose  45.2 percent to Ksh.10.76 billion and non-interest-funded income grew ahead of interest income at 55.5 percent to hit Ksh.3.9 billion compared to the previous like period.

Customer deposits in the review period grew by 14.2 percent to Ksh.302.9 billion from Ksh.265.4 billion a year prior.

Non-interest expenses grew by 47.2 percent from Ksh.3.5 billion to Ksh.5.1 billion largely from an acceleration in loan-loss provisioning to Ksh.790.9 million.

Gross non-performing loans were only up marginally to Ksh.22.59 billion from Ksh.22.56 billion in March last year.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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