Kenyan unit of Standard Chartered Bank net profit for 2018 grew by 17 per cent to KSh8.1 billion mainly driven by income from government securities which increased by 10% to KSh12.5 billion. I
Standard Chartered bank managed to grow its customer deposits by 5 per cent to KSh224 billion. However, loans and advances to customers went down 6 per cent from KSh126 billion to KSh119 billion.
Despite the drop in the value of loans and advances to customers, the bank’s total non-performing loans rose by 22
The bank’s operating expenses dropped by 3 per cent to KSh 24.2 billion on the back of a 53 per cent decline in loan loss provision expenses.
Directors of the bank recommend a final dividend of KSh14 for every ordinary share held. If approved by the shareholders, total dividend payout will rise 12 per cent from KSh17 paid in 2017 to KSh19.