This archive report was first published on 23 August 2021.
Published on August 23, 2021, StanChart Bank Kenya Limited's net earnings for the first six months of 2021 rose to KSh 4.8 Billion, a 50% increase from KSh 3.2 Billion in 2020.
Despite a decline in net loans to customers, the bank's financials showed a significant growth in several key areas. Net loans to customers decreased to KSh 130.3 Billion in H1, 2021, compared to KSh 134.3 Billion during the first six months of 2020.
StanChart's Financial Performance ¶
The bank's balance sheet size grew from KSh 327.2 Billion to KSh 345.6 Billion during the period under consideration. Customer deposits also increased, rising from KSh 256.5 Billion in H1, 2020 to KSh 278.2 Billion in H1, 2021.
However, net interest income fell from KSh 9.4 Billion in half-year 2020 to KSh 9.1 Billion in H1, 2021. Total shareholders' equity remained flat at KSh 51.7 Billion during the period under review.
Additionally, fees and commissions earned by the lender from loans to customers declined to KSh 140.9 Million in H1, 2021 from KSh 152.5 Million at the end of the first six months of last year. Cash balances, both local and foreign currency, also declined to KSh 2.9 Billion in H1, 2021 from KSh 3.6 Billion at the close of the first half of 2020.
