Stanbic Holdings half year earnings moved from KSh3.5 billion in 2018 to KSh4 billion in 2019, a 14 percent increase. The regional lender booked a 19.5 percent growth in net interest income to reach KSh6.7 billion while non-interest income jumped up by 10 percent to KSh6.1 billion.
The lender increased the amount of loans and advances to customers by 15 percent to KSh177 billion from KSh154 billion in a similar period last year. Similarly, deposits went up by 10 percent to reach KSh238 billion.
Stanbic’s operating expenses soared by 5 percent from KSh5.7 billion in the first half of 2018 to KSh6 billion in the first half of 2019.
Stanbic Holdings operates in Kenya and South Sudan. The Kenyan business, which generates the largest share of revenue, posted KSh3.96 billion in net earnings in the half year period. Gross non-performing loans in the Kenyan subsidiary went up by 70 percent to settle at KSh17.9 billion from KSh10.5 billion in the first six months of 2018.
The bank’s directors declared an interim dividend of KSh1.25 for every ordinary share held. The proposed interim dividend for 2019 is 44 percent lower than the KSh2.25 interim dividend paid out in 2018.
The bank’s directors declared an interim dividend of KSh1.25 for every ordinary share held. The proposed interim dividend for 2019 is 44 percent lower than the KSh2.25 interim dividend paid out in 2018.
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