(Last Updated On: August 23, 2015)
Standard Chartered Bank reported a 36% drop in net profit for the half year ended June 2015. Half year net profit dropped to Ksh3.9 billion from Ksh6.06 billion in 2014. This was due to increase in non-performing loans. In 2014 there was income from the sale of a Ksh1.4 billion property.
Loan provision increased by 51.2% to Ksh1.3 billion. Gross non-performing loans went down 42.8% to Ksh8.34 billion. Net loans went down to Ksh123.5 billion. Interest income went down by 8.9% to Ksh7.2 billion. Total operating income was down 11.4% to stand at Ksh12.18 billion. Non interest income also dropped by 31.21% to Ksh3.4 billion.