StanChart Bank Kenya Limited(SCBK) Net Earnings for the first six months of this year rose to KSh 4.8 Billion compared to KSh 3.2 Billion over a similar period in 2020, an increase of 50%.
Net loans to customers declined to KSh 130.3 Billion in H1, 2021, compared to KSh 134.3 Billion during the first six months of 2020.
Stanchart balance sheet size grew from KSh 327.2 Billion to KSh 345.6 Billion during the period under consideration.
Customer deposits were up from KSh 256.5 Billion in H1, 2020 to KSh 278.2 Billion in H1, 2021.
Net Interest Income fell from KSh 9.4 Billion in half-year 2020 to KSh 9.1 Billion in H1, 2021, while total shareholders equity remained flat at KSh 51.7 Billion during the period under review.
Fees and Commissions earned by the lender from loans to customers declined to KSh 140.9 Million in H1, 2021 from KSh 152.5 Million at the end of the first six months of last year.
Cash balances( both local and foreign currency) declined to KSh 2.9 Billion in H1, 2021 from KSh 3.6 Billion at the close of the first half of 2020.
The lender cut provisions for loan losses from KSh 1.6 Billion to KSh 638.5 Million in H1, 2021, while Pre-tax profits rose to KSh 6.8 Billion from KSh 5.1 Billion in H1, 2020.