This archive report was first published on 26 August 2019.
On August 26, 2019, Standard Chartered Bank Kenya reported a 5.3 percent growth in net profit during the first six months of the year, reaching 4.7 billion shillings.
The bank's net profit growth was attributed to a 26 percent decrease in total interest expense, which stood at 2.9 billion shillings.
However, the lender's interest income declined by 7 percent to 12.7 billion shillings, driven by lower investment in government securities and declining yields.
Despite the interest cap still being in effect, banks have opted to increase their investments in government securities in efforts to avoid risk-averse lenders.
