Stanchart stares at Sh30 billion payout in dispute with pensioners

Aerial view of Standard Chartered Bank branch along Kenyatta Avenue, Nairobi. [Elvis Ogina, Standard]

Standard Chartered Bank could fork out as much as Sh30 billion as a final settlement in a protracted legal dispute with its 629 pensioners.

The lender, alongside its pension fund trustees and staff benefits scheme, has moved to court seeking to suspend a tribunal’s verdict that exposes it to the huge settlement to its former employees, some of whom retired way back in 1975.