Trading activity at the Nairobi Securities exchange on Thursday showed mixed signals as all the indices retreated despite an increase in the value of shares changing hands. The NSE 20 Share index was down by 24.43 points to settle at 3484.03 points while the NASI slightly lost ground to end the day at 0.18 points below yesterday’s 147.50 points.
The NSE 25 Share index declined to 3971.74 points from 3979.47 points previously. Market capitalization dropped marginally to KES 2121.984 billion from KES 2124.541 billion before, whilst equity turnover jumped to KES 1.01 billion from KES 0.84 billion on Wednesday as a result of a 12.42% rise in the volume of shares traded.
Standard Chartered Bank Kenya Half Year 2016 Financial Highlights:
- Total Interest Income went up by 21% to KES 13 Billion compared to KES 10.8 Billion in 2015.
- Interest Income was triggered by an 8% increase in loans and advances to KES 7.7 Billion, a 49% increase in interest from Government Securities to KES 4.7 Billion and a 140% increase in Other interest income to KES 193 Million.
- Total Non-Interest Income was up by 32% to KES 4.5 Billion compared KES 3.4 Billion in a similar period in 2015.
- Profits before tax went up by 34% to KES 7.4 Billion compared to KES 5.6 Billion in a similar period in 2015.
- Profits after tax stood at KES 5.2 Billion for HY 2016 indicating an increase of 33% compared to KES 3.9 Billion posted in HY 2015.
- Total Non-Performing Loans and Advances jumped by 87% to KES 11.3 Billion in HY2016 compared to KES 6 Billion in HY2015.
- The Board of Directors declared a total dividend of KES 2.1 Billion amounting to KES 6.00/share.
CURRENCIES:
The Kenya shilling gained slightly against the US dollar today to a mean of KES 101.41 from an average of KES 101.48 yesterday on account of higher hard currency inflows from the country’s citizens living abroad and agricultural exporters. The local currency lost a further 0.26% against the Sterling but was almost unchanged against the Euro.
Better-than-forecast retail sales data allowed the GBP to push best multi-week exchange rates with expectations that the Pound Sterling’s decline may be coming to an end. Despite UK data holding up relatively well, the trade-weighted GBP has depreciated notably since the Brexit vote with the move lower accelerating following the larger-than-expected Bank of England easing package announced on August 4th.It is currently about 10% below its pre-Brexit level.