Standard Chartered recorded a net profit growth of 5% to KSh4.7 billion compared to KSh4.5 billion in the previous half-year.
The bank’s operating income dropped by 1 per cent to KSh14.6 billion from the previous period which was KSh 14.7 billion as a result of compressed margins.
Investing in technology and cybersecurity saw the lender’s operating expenses increase.
The bank’s net impairment losses decreased by 69% to KSh400 million due to the continued improvement in asset quality.
The pre-tax profit was a 6% increase to KSh6.9 billion compared to KSh6.6 billion thus leading to a higher EPS by 5% to KSh 13.46.
Loans and advances to customers increased from KSh118.7 billion to KSh120 billion.
