StanChart Posts Ksh 9 Billion Profit For 9 Months To September

Standard Chartered Bank Kenya Limited (StanChart) has announced a pre-tax profit of 9 billion shillings for the nine months ended 30 September 2019.
According to the statements released by the lender, interest income declined by 6 percent to 19.1 billion shillings weighed down by declining yields and lower average investment in government securities.
Interest income from customer loans and advances increased by 2 percent on the back of higher average volumes.
Total interest expense decreased by 24 percent to 4.4 billion shillings from the proactive management of the balance sheet.
Non-interest income was flat year on year at 7 billion shillings impacted by a slowdown in corporate finance.
Operating expenses are up 12 percent driven by investments in technology, cybersecurity, and staff.
Read Also:
- Why Should I Pay My Bank To Prove That My Account Is Active?
- Kenya Beats US in Gender Equality in the Workforce as Standard Chartered Bank Tops
Loans and advances to customers remained flat at KShs 119 billion compared to December 2018 as StanChart continued to focus on higher-quality asset origination to ensure we grow our balance sheet in a sustainable manner.
Customer deposits grew modestly to 225 billion shillings compared to 224 billion shillings in December 2018.
Gross non-performing loans at 19.9 billion shillings are down 8 percent from the end of 2018. Overall credit quality has remained stable.
“We continue to focus on the quality of the balance sheet. The cover ratio of 67 percent remains above the industry average of 35 percent,” said the bank.
According to StanChart, the total capital ratio is at 18.86 percent with a prudent surplus to regulatory requirements with a liquidity ratio of 68 percent.
“We have over 70 digital services and products on our mobile app enabling over 80 percent of transactions to be conducted digitally. Close to 90% of our corporate clients are utilizing our Straight2Bank platform and over 20% of Kenya Revenue Authority tax receipts are processed through our real-time Integrated Tax Payment solution. The Bank was recently awarded ‘Best Consumer Digital Bank’ and ‘Best Bank for Cash Management’ in Kenya, 2019 by Global Finance”, said Kariuki Ngari, Chief Executive Officer.
About Soko Directory Team
Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory
- January 2025 (119)
- February 2025 (191)
- March 2025 (212)
- April 2025 (184)
- January 2024 (238)
- February 2024 (227)
- March 2024 (190)
- April 2024 (133)
- May 2024 (157)
- June 2024 (145)
- July 2024 (136)
- August 2024 (154)
- September 2024 (212)
- October 2024 (255)
- November 2024 (196)
- December 2024 (143)
- January 2023 (182)
- February 2023 (203)
- March 2023 (322)
- April 2023 (297)
- May 2023 (267)
- June 2023 (214)
- July 2023 (212)
- August 2023 (257)
- September 2023 (237)
- October 2023 (264)
- November 2023 (286)
- December 2023 (177)
- January 2022 (293)
- February 2022 (329)
- March 2022 (358)
- April 2022 (292)
- May 2022 (271)
- June 2022 (232)
- July 2022 (278)
- August 2022 (253)
- September 2022 (246)
- October 2022 (196)
- November 2022 (232)
- December 2022 (167)
- January 2021 (182)
- February 2021 (227)
- March 2021 (325)
- April 2021 (259)
- May 2021 (285)
- June 2021 (272)
- July 2021 (277)
- August 2021 (232)
- September 2021 (271)
- October 2021 (304)
- November 2021 (364)
- December 2021 (249)
- January 2020 (272)
- February 2020 (310)
- March 2020 (390)
- April 2020 (321)
- May 2020 (335)
- June 2020 (327)
- July 2020 (333)
- August 2020 (276)
- September 2020 (214)
- October 2020 (233)
- November 2020 (242)
- December 2020 (187)
- January 2019 (251)
- February 2019 (215)
- March 2019 (283)
- April 2019 (254)
- May 2019 (269)
- June 2019 (249)
- July 2019 (335)
- August 2019 (293)
- September 2019 (306)
- October 2019 (313)
- November 2019 (362)
- December 2019 (318)
- January 2018 (291)
- February 2018 (213)
- March 2018 (275)
- April 2018 (223)
- May 2018 (235)
- June 2018 (176)
- July 2018 (256)
- August 2018 (247)
- September 2018 (255)
- October 2018 (282)
- November 2018 (282)
- December 2018 (184)
- January 2017 (183)
- February 2017 (194)
- March 2017 (207)
- April 2017 (104)
- May 2017 (169)
- June 2017 (205)
- July 2017 (189)
- August 2017 (195)
- September 2017 (186)
- October 2017 (235)
- November 2017 (253)
- December 2017 (266)
- January 2016 (164)
- February 2016 (165)
- March 2016 (189)
- April 2016 (143)
- May 2016 (245)
- June 2016 (182)
- July 2016 (271)
- August 2016 (247)
- September 2016 (233)
- October 2016 (191)
- November 2016 (243)
- December 2016 (153)
- January 2015 (1)
- February 2015 (4)
- March 2015 (164)
- April 2015 (107)
- May 2015 (116)
- June 2015 (119)
- July 2015 (145)
- August 2015 (157)
- September 2015 (186)
- October 2015 (169)
- November 2015 (173)
- December 2015 (205)
- March 2014 (2)
- March 2013 (10)
- June 2013 (1)
- March 2012 (7)
- April 2012 (15)
- May 2012 (1)
- July 2012 (1)
- August 2012 (4)
- October 2012 (2)
- November 2012 (2)
- December 2012 (1)