Stanbic’s half year net profit increases by 105% to Ksh. 3.6 Billion

Charles Mudiwa, Chief Executive Officer at Stanbic Bank Kenya
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Stanbic Holdings Plc has announced that its net profit for half year period ended June 30 2018 has increased by 105% to stand at Ksh. 3.6 Billion. The financial services group recorded Ksh. 1.7 Billion in net profit in the same period last year.

The group’s total revenues for the year also increased Ksh. 11.2 Billion as compared to Ksh. 9.2 Billion in the previous year. Stanbic Bank Kenya’s customer deposits also grew by 21 per cent to stand at Ksh. 164.9 billion. Net interest income for the period increased to Ksh. 5.6 billion, from Ksh. 4.9 Billion the previous year, largely driven by growth in loans and advances. The bank’s loan book value for the period was Ksh. 136.5 billion, compared to Ksh. 117.9 Billion in the previous year.

Stanbic Holdings Plc is a financial services group which consists of Stanbic Bank Kenya , SBG Securities and Stanbic Insurance Agency.

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