@CapitalFMNews

Stanbic Holdings HY profit up by 105pc to Sh3.6b

1 weeks ago, 16:44

By: Correspondent

,

NAIROBI August 10, 2018 – Stanbic Holdings has posted a profit of Sh3.6 billion half-year profit for the period ended June 30th 2018, a 105 percent increase from the Sh1.7 billion it posted in 2017.

The Group, which consists of Stanbic Bank Kenya Ltd, SBG Securities and Stanbic Insurance Agency Ltd delivered revenues of Sh11.2 billion, compared to Sh9.2 billion the previous year.

This is attributed to enhanced contribution from non-interest income which grew by 34 percent accounting for a half of the total revenues, according to Stanbic Bank Kenya’s Chief Executive, Charles Mudiwa.

He noted that the impressive performance was the result of unwavering focus on fulfiling needs of customers, leveraging digital technology to enhance their experiences.

“Digitisation is key for our future. Technology continues to present an opportunity to improve our customers’ experiences and ensure that our services are consistently available, anytime, anywhere,” Mudiwa added.

Stanbic Bank Kenya’s customer deposits grew by 21 per cent to stand at Sh164.9 billion.

Net interest income for the period increased to Sh5.6 billion, from the Sh4.9 billion the previous year, driven by growth in loans and advances, whose value stood at Sh136.5 billion, compared to Sh117.9 billion the previous year.


Read More


Category: business finance

Suggested

3 hours ago, 00:08
@StandardMedia - By: James Wanzala
Form mergers, review strategies to be relevant, CS urges trade unions

Cabinet Secretary, Ministry of Labour and Social Protection Ambassador Ukur Yatani has urged trade unions to form partnerships. ...

Category: business news
9 hours ago, 17:50
@TheEastAfrican - By: Business Daily
Regulator suspends troubled ARM Cement from NSE

The company was placed under administration on Friday. ...

Category: topnews news business
9 hours ago, 18:01
@BusinessDaily - By: Edwin Mutai
Probe senators over Ruaraka land bribe claim, says Kajwang

It is alleged that Mr Mburu has submitted an audio recording of the Senators soliciting the bribe money to the DCI for investigations. ...

Category: business lifestyle news
7 hours ago, 19:42
@AfricaNews - By: Africanews
Ghana economy: IMF checks to stay in place after bailout package | Africanews

Ghana committed with the IMF in 2015 to an expanded credit facility program of nearly $1 billion, as a result of overspending and the depreciation of the cedi against the dollar ...

Category: africa africa_business business news
9 hours ago, 17:56
@BusinessDaily -
Court stops owner of Solai dam from leaving the county

Patel Kansagra barred from flying out although another judge had allowed him to do so. ...

Category: business lifestyle news
11 hours ago, 15:55
@DailyNation -
Potato project to unlock potential of crop in the Rift

It is possible to more than double the productivity of potatoes by using good agricultural practices that include the growing of certified seed potato. ...

Category: topnews news business

@CapitalFMNews

Stanbic Holdings HY profit up by 105pc to Sh3.6b

1 weeks ago, 16:44

By: Correspondent

,

NAIROBI August 10, 2018 – Stanbic Holdings has posted a profit of Sh3.6 billion half-year profit for the period ended June 30th 2018, a 105 percent increase from the Sh1.7 billion it posted in 2017.

The Group, which consists of Stanbic Bank Kenya Ltd, SBG Securities and Stanbic Insurance Agency Ltd delivered revenues of Sh11.2 billion, compared to Sh9.2 billion the previous year.

This is attributed to enhanced contribution from non-interest income which grew by 34 percent accounting for a half of the total revenues, according to Stanbic Bank Kenya’s Chief Executive, Charles Mudiwa.

He noted that the impressive performance was the result of unwavering focus on fulfiling needs of customers, leveraging digital technology to enhance their experiences.

“Digitisation is key for our future. Technology continues to present an opportunity to improve our customers’ experiences and ensure that our services are consistently available, anytime, anywhere,” Mudiwa added.

Stanbic Bank Kenya’s customer deposits grew by 21 per cent to stand at Sh164.9 billion.

Net interest income for the period increased to Sh5.6 billion, from the Sh4.9 billion the previous year, driven by growth in loans and advances, whose value stood at Sh136.5 billion, compared to Sh117.9 billion the previous year.


Read More

Category: business finance

Suggested

3 hours ago, 00:08
@StandardMedia - By: James Wanzala
Form mergers, review strategies to be relevant, CS urges trade unions

Cabinet Secretary, Ministry of Labour and Social Protection Ambassador Ukur Yatani has urged trade unions to form partnerships. ...

Category: business news
9 hours ago, 17:50
@TheEastAfrican - By: Business Daily
Regulator suspends troubled ARM Cement from NSE

The company was placed under administration on Friday. ...

Category: topnews news business
9 hours ago, 18:01
@BusinessDaily - By: Edwin Mutai
Probe senators over Ruaraka land bribe claim, says Kajwang

It is alleged that Mr Mburu has submitted an audio recording of the Senators soliciting the bribe money to the DCI for investigations. ...

Category: business lifestyle news
7 hours ago, 19:42
@AfricaNews - By: Africanews
Ghana economy: IMF checks to stay in place after bailout package | Africanews

Ghana committed with the IMF in 2015 to an expanded credit facility program of nearly $1 billion, as a result of overspending and the depreciation of the cedi against the dollar ...

Category: africa africa_business business news
9 hours ago, 17:56
@BusinessDaily -
Court stops owner of Solai dam from leaving the county

Patel Kansagra barred from flying out although another judge had allowed him to do so. ...

Category: business lifestyle news
11 hours ago, 15:55
@DailyNation -
Potato project to unlock potential of crop in the Rift

It is possible to more than double the productivity of potatoes by using good agricultural practices that include the growing of certified seed potato. ...

Category: topnews news business
Our App