Stanbic Holdings Plc has posted an increase in net earnings to KSh 6.4 billion for the financial year ended 31st December 2019. It is a slight improvement from KSh6.3 billion net profit recorded in 2018.
Loans and advances to banks and customers increased to KSh 191.2 billion in 2019 compared to KSh 174.9 billion the previous period.
Deposits from banks and customers grew from KSh219.5 billion to KSh 224.7 billion while the size of its balance sheet increased to KSh 303.6 billion in 2019 compared to KSh 290.6 billion in 2018.
Net interest income increased from 12.1 billion to KSh 13.3 billion while total operating expenses grew from KSh 11.1 billion to KSh 13.9 billion during the period under consideration.
Stanbic Holdings increased its borrowing from KSh 7.1 billion to KSh 9.1 billion.
Directors of the company have declared a final dividend of KSh 5.80 for each ordinary share held. This is in addition to an interim dividend of KSh 1.25, bringing the full dividend to KSh 7.05.
Stanbic Holdings Plc, formerly known as CfC Stanbic Holdings Limited, is a financial services organization in Kenya. Its subsidiaries include Stanbic Bank Kenya Limited, SBG Securities Limited and Cfc Holdings Limited
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