Standard Chartered records Sh8 billion after-tax profit

Standard Chartered Bank Kenya

Standard Chartered Bank Kenya has posted Sh8.09 billion in after-tax profit for the year ended 2018 marking a 17.1 per cent increase from the Sh6.91 billion it recorded in 2017.

The Nairobi Securities Exchange (NSE) listed bank saw its total interest increase slightly by 2.27 per cent to Sh26.87 billion from Sh26.27 billion the previous year.

Standard Chartered's income from investments in government securities grew to Sh12.45 billion from Sh11.33 billion in 2017.

SEE ALSO :KTDA, StanChart in Sh3.5b finance deal

The lender also increased its deposit placements with banking institutions to Sh650 million from Sh530 million in 2017.

Loans and advances to customers recorded a small drop to close at Sh118.65 billion from Sh126.29 billion the previous year.

Equally, the tier one bank assets decreased marginally by 0.1 per cent to Sh285.40 billion from Sh285.72 billion in 2017.

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.

Register to advertise your products & services on our classifieds website and enjoy one month subscription free of charge and 3 free ads on the Standard newspaper.

Standard Chartered Bank KenyaNairobi Securities Exchange (NSE)