(Last Updated On: March 28, 2015)
Standard Chartered Bank of Kenya reported a 12.6 percent rise in profit for the year ended December 2014. Profit after tax stood at Ksh10.4 billion up from Ksh9.2 billion.
Gross non performing loans went tremendously up by 179% to Ksh10.75 billion as compared to Ksh3.8 billion in 2013. Interest income grew by only 2 percent from Ksh21.7 billion to Ksh22.1 billion. Loans and advances went down by 6% to Ksh122.7 billion while customer deposits also fell from Ksh154.7 billion to Ksh154.1 billion.
The bank plans to manage costs and risk plus retain top talent. A dividend of Ks17 per share was declared as compared to Ksh14.5 the previous year.