Stanbic reports Sh3.3 billion first quarter net profit

Stanbic Holdings PLC Chairman, Joseph Muganda (Far Right), Regional Chief Executive, East Africa, Standard Bank Group, Patrick Mweheire (Second Right), Stanbic Bank Kenya and South Sudan Chief Executive, Dr. Joshua Oigara (Far Left) and Stanbic Bank Kenya Chief Financial and Value Officer, Dennis Musau (Second Left) during the 2024 Stanbic Holdings PLC Financial Results Investor Briefing. [Courtesy]

Stanbic Bank has announced a Sh3.3 billion profit after tax for the period ended March 31, 2025. The lender attributed the first quarter performance to a shift in year-on-year macroeconomic dynamics and base effects, which have temporarily impacted growth momentum.

Net interest income grew by five per cent on the back of increased income from customer lending and government securities.