Standard Chartered Kenya Profit up by 11% in H1
Standard Chartered Bank Kenya recently announced its financial results for the first half of the year period ended 30 June 2022.
The lender’s profit before tax was up 11% to Ksh 7.5 Billion while profit after tax also rose by 11% to Ksh 5.4 Billion.
Net interest income increased 10% as non-interest income increased 11% with solid performance in wealth management and financial markets units. The bank’s wealth management unit posted an income growth of 25% while assets under management grew by 12%.
Customer deposits grew by 8% to Ksh 286.9 Billion as loans and advances to customers was up slightly by 2% to Ksh 128.5 Billion. The lender said current and savings accounts now make up 92% of total customer deposits.
Related Posts
South Africa: Lula secures over $21m to boost SME funding
South African fintech Lula has secured R340 million (over $21 million) in local currency funding from the Dutch…
ByIfeyinwa Osime appointed Chair of Access Bank board
Access Holdings Plc has announced the appointment of Mrs. Ifeyinwa Osime as the new Chairman of the Board…
Simba Group, LAPO to enhance asset financing for mobility entrepreneurs
Simba Group, the exclusive distributor of TVS Tricycles (popularly known as Keke) and motorcycles in Nigeria, has entered…
Nedbank plans 66% acquisition of NCBA Group
South Africa’s Nedbank Group Limited has announced its intention to acquire a controlling 66% stake in NCBA Group…
Gallery
