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.