Stanchart posts 24pc jump in profit, promises rate cuts

Standard Chartered Bank Kenya has announced a pre-tax profit of Sh8.1 billion for the period ended 30 June 2014. This is up 24 per cent compared to Sh6.5 billion in the same period last year.

Interestingly, the volume of non-performing loans has increased significantly even as the financial institution moves to cut its base lending rates, now considered one of the lowest in the market at 14 per cent.