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Standard Chartered Bank Posts Sh 8 Billion After Tax Profit

Standard Chartered Bank Kenya has posted Sh8 billion in after-tax profit for the year ended 2018 marking a 17.1 per cent increase from what it recorded in 2017.

Standard Chartered Bank Kenya has seen its total interest increase slightly by 2.27 per cent to Sh26.87 billion from Sh26.27 billion as compared to the previous year. In line with the trend in the banking sector following the capping of interest charged on loan, Standard Charted increased its investments in government securities to Sh12.45 billion from Sh11.33 billion in 2017.

Standard Chartered has also increased its deposit placements with banking institutions to Sh650 million from Sh530 million. However, Loans and advances to customers recorded a small drop to close at Sh118.65 billion from Sh126.29 billion as assets decreased marginally by 0.1 per cent to Sh285.40B.

The board has recommended a total dividend of Sh19.00 per share, which is an 11 per cent increase in dividend payment of Sh17 last year.

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    Written by Albert

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