Stanbic Bank Kenya full year net earnings decline by 2.5%

Stanbic Holdings has reported its numbers for the full year period ended Dec 2017. Notably, non-interest income grew by 10% to sh 8.4Billion while net interest income fell slightly by 2% to Sh 10.6 Billion.

Key Highlights

  • Total income climbed grew by 3.0% to Sh 19.1 Billion mainly attributed to the 10% growth in non-interest income.
  • Credit impairment charges increased by 57.6% to Sh 2.8 Billion as gross non-performing loans increased by 47.7% to Sh 10.4 Billion.
  • Net interest income declined by 2% to Sh 10.6 Billion.
  • Total operating expenses grew by 1.7% Sh 10.9 Billion.
  • Profit before tax declined by 10.7% to Sh 5.4 Billion while profit after tax fell 2.5% to Sh 4.3 Billion.
  • Loans and advances to banks and customers grew by 8.1% to Sh 143.3 Billion while deposits from banks and customers increased by 24% to Sh 193.4 Billion.
  • The board declared a final dividend of Sh 5.25 per share, unchanged from the previous year.