This archive report was first published on 8 August 2019.
On August 8, 2019, Stanbic Holdings reported a 14 percent increase in half-year earnings, rising to KSh4 billion in 2019 from KSh3.5 billion in 2018.
The regional lender's net interest income grew by 19.5 percent to reach KSh6.7 billion, while non-interest income jumped up by 10 percent to KSh6.1 billion.
Stanbic Holdings saw a 15 percent increase in loans and advances to customers, reaching KSh177 billion, and a 10 percent increase in deposits, reaching KSh238 billion.
Operating expenses soared by 5 percent from KSh5.7 billion in the first half of 2018 to KSh6 billion in the first half of 2019.
Stanbic Holdings operates in Kenya and South Sudan, with the Kenyan business generating the largest share of revenue, posting KSh3.96 billion in net earnings in the half year period.
The bank's directors declared an interim dividend of KSh1.25 for every ordinary share held, 44 percent lower than the KSh2.25 interim dividend paid out in 2018.
