Stanbic Bank Q3 Results: Profit Decline 29.4% to Ksh 3.6 billion

Stanbic Bank Q3 Results: Profit Decline 29.4% to Ksh 3.6 billion

Stanbic Holdings bank reported Friday that its Q3 profits declined by 29.4% to Ksh 3.6 billion from Ksh 5.1 billion.

The lender said this was largely contributed by lower operating income which dropped to Ksh 16.1 billion from Ksh 18.4 billion last year and higher loan loss provisions which hit Ksh 2.9 billion from Ksh 1.7 billion in 2019.