10 August 2018

Kenya: Stanbic Holdings Hy Profit Up By 105pc to Sh3.6b

NAIROBI August 10, 2018 - Stanbic Holdings has posted a profit of Sh3.6 billion half-year profit for the period ended June 30th 2018, a 105 percent increase from the Sh1.7 billion it posted in 2017.

The Group, which consists of Stanbic Bank Kenya Ltd, SBG Securities and Stanbic Insurance Agency Ltd delivered revenues of Sh11.2 billion, compared to Sh9.2 billion the previous year.

This is attributed to enhanced contribution from non-interest income which grew by 34 percent accounting for a half of the total revenues, according to Stanbic Bank Kenya's Chief Executive, Charles Mudiwa.

He noted that the impressive performance was the result of unwavering focus on fulfiling needs of customers, leveraging digital technology to enhance their experiences.

"Digitisation is key for our future. Technology continues to present an opportunity to improve our customers' experiences and ensure that our services are consistently available, anytime, anywhere," Mudiwa added.

Stanbic Bank Kenya's customer deposits grew by 21 per cent to stand at Sh164.9 billion.

Kenya

Media Council Warns Jeff Koinange, Citizen TV Over Atwoli 'Sex' Interview

The Media Council of Kenya has rapped Citizen TV saying its anchor Jeff Koinange breached the journalists' code of… Read more »

See What Everyone is Watching

Copyright © 2018 Capital FM. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.