(Last Updated On: August 19, 2014)
Standard Chartered Bank Kenya was able to register a pretax profit of sh8.1 billion. This is a rise of 24 percent. The amount of non-performing loans has increased by quite a huge margin. The bank is planning to cut its base lending rates to around 14 percent making it among the lowest in the market.
Non performing loans stood at sh14.6 billion as compared to sh3.8 billion the previous year. Loans and advances went up by 11 percent, that is from sh118.4 billion to sh131.7 billion. Customer deposits were at a standstill at sh147 billion. The bank earned sh8.8 billion form net interest income which is a 9 percent growth. Non interest income had grown by 31 percent to sh5 billion while foreign exchange was flat at sh1.2 billion.