Standard Chartered Q3 2015 Results Financials
Standard Chartered Bank of Kenya announced its Q3 results.
Net Interest income was up by 1.14% to KES 13.448 Billion. Total Non-Interest Income was down by 19.9%. This was due to a significant drop in Other Income by KES 1.4 Billion.
Profit before Tax was down by 21.4% to KES 8.779 Billion quarter on quarter. Earnings per share reduced by 25.8% to KES 19.47 compared to Q4 EPS of KES 26.23.
Standard Chartered accounts this drop in profits due to Loan-Loss provisions which rose nearly 50 percent to 1.69 billion shillings, while operating expenses increased about 15 percent to 9.84 billion shillings.
Exposure to net non-performing loans stood at 545.8 million shillings at the end of September, lower than the 898.9 million shillings a year earlier.
The Directors have recommended an interim dividend of KES 4.50 per share despite the drop in profits. The interim dividend will be paid on or after 11 January 2016 to the shareholders on the share register at the close of business on 18 December 2015.
Share Price Trend
Standard Chartered share price is down 33.33% Year to Date. It closed at KES 223.00 per share in today’s trading (25/11/2015). 7,000 Shares were traded.
