Stanbic Bank First-Quarter Profits Up By 26.7% 

Stanbic Holdings bank reported that its half-year profit rose by 34.6 per cent to Ksh 3.5 billion for the period ended June 2021.

Stanbic Holdings bank reported a 26.7 per cent 2021’ Q1 profits of Ksh 1.9 billion from Ksh 5.1 billion.

The lender’s operating income rose to Ksh.6 billion from Ksh.5.4 billion on a 21.7 per cent rise in non-interest funded income (NFI) to Ksh.2.8 billion.

It’s total interest income remained flat in the period at Ksh.4.8 billion.

Stanbic’s level of gross non-performing loans (NPLs) have increased to Ksh.26.4 billion from Ksh.21.1 billion.

Provisions for bad loans rose to Ksh.609.5 million from Ksh.617 million in March last year.