Stanchart Bank Kenya net earnings drop 24% to Sh 6.9 Billion

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Standard Chartered Bank of Kenya has reported its financial results for the full year period ended December 2017. Here are the key highlights from the financials;

  • Total interest income grew by 2% to Sh 26.3 Billion as interest expense skyrocketed by 21% to Sh 7.7 Billion.
  • Total non-interest income grew by 2.1 to Sh 8.8 Billion
  • Profit before tax declined by 24% to Sh 10 Billion while net profit declined 23.6% to Sh 6.9 Billion.
  • Operating expenses grew by 5% to Sh 13.1 Billion
  • Loans and advances to customers increased marginally by 3% to Sh 126 Billion while customer deposits were up by 14.3% to Sh 213 Billion.
  • Gross Non Performing loans increased by 17% to Sh 17.6 Billion

The lender’s board declared a final dividend of Sh 12.50 per share, amounting to Sh 17 per share which is -15 compared to the previous year.

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