Nairobi — Stanbic Holdings posted a net profit of Sh6.6 billion for the six months ended June 30, driven by growth in lending and customer deposits despite a dynamic operating environment.

The lender said total assets rose 27 percent to Sh602 billion, while customer deposits increased by 28 percent to Sh422 billion, reflecting continued growth in its customer base.

Customer loans grew by 24 percent to Sh290 billion, supported by increased lending to businesses and key sectors of the economy.

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Chief Executive Joshua Oigara said the results reflected the bank's disciplined strategy and focus on supporting economic growth.

"Our performance in the first half demonstrates the discipline and resilience that continue to define our business. We remain well-capitalised, deeply customer-centric, and steadfast in our commitment to support Kenya's economic growth," Oigara said.

He added that prudent risk management and continued investment in technology had strengthened customer experience while delivering value to shareholders.

The bank maintained a credit loss ratio of 0.5 percent, one of the strongest in the sector, while its non-performing loan (NPL) ratio stood at 7.73 percent, well below the banking industry's average.

Chief Financial and Value Officer Dennis Musau attributed the performance to disciplined execution and improving economic conditions.

"Our half-year financial performance reflects a disciplined balance between revenue growth, cost optimisation and proactive risk management. While the operating environment remains dynamic, our strategic investments, execution discipline and strong risk management framework position us well to capture opportunities and deliver sustainable value for our stakeholders," Musau said.