Kenya: High Interest Earning Pushes Stanchart Net Profit to Sh20bn

Nairobi — Standard Chartered Bank profit after tax expanded by Sh6.23 billion to Sh20 billion last year on the back of improved incomes from interest and non-interest sub-sectors.

During a similar period in 2023, the lender recorded a Sh13.8 billion net profit.

For instance, the bank’s net interest income increased by 13 percent to Sh33.27 billion, largely due to higher volumes and improved margins.

On the other hand, non-interest income surged by 40 percent, reaching Sh17.41 billion, buoyed by…