Standard Chartered Bank Kenya posted a 28% rise in Net Earnings to KSh 6.91 Billion at the end of the six months’ period ended 30th June 2023. This is compared to a Net Profit of KSh 5.51 Billion over a similar period last year.
The Nairobi bourse listed lender saw a 13.17% growth in loans to customers to KSh 145.44 Billion as at the end of June this year from KSh 128.52 Billion in Half year 2022. The bank’s balance sheet size, however, shrunk to KSh 361.68 Billion worth of assets down from KSh 364.29 Billion in HY 2022, a marginal 0.72% drop.
The lender’s customer deposits also fell 1.13% to KSh 283.67 Billion at the end of June 2023 from KSh 286.91 Billion in HY 2022. Its net interest income was up 38.32% to KSh 13.85 Billion. Similarly, the bank’s Net Non-interest income grew earnings by 26.79% to KSh 7.03 Billion in HY 2023 from KSh 5.54 Billion in HY 2022.
Total Operating Income was up 34.2% to KSh 20.88 Billion while Total operating expenses grew by 40.7% to KSh11.23 Billion. The lender’s Earnings Per Share (EPS) improved 30% from KSh13.87 to KSh 18.07 during the period under review.
Directors of SCBK have not declared any interim dividend to shareholders, a trend it has adopted for the past three years since 2020.
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