(Last Updated On: May 30, 2015)
Standard Chartered Bank of Kenya recorded a 28% drop in net profit for the first quarter of 2015. This was mainly due to a higher amount of bad debts in its loan book. Net profit stood at Ksh1.8 billion as compared to Ksh2.5 billion last year.
Non performing loans increased by high of 372%. Operating income went down by 5.4% while expenses increased by 6.4%.