Standard Chartered Profit Rises to KES 8.7 Bn; Declares Interim Dividend

An interim dividend of Ksh.6 per share declared.

Standard Chartered Bank banner during the Stanchart nairobi Marathon preparations

Standard Chartered Bank Kenya has posted a net profit of Ksh 8.7 billion in Q3 2022, representing a 37.1% year-on-year (YOY) increase compared to Q3’2021 of Ksh 6. 4 billion.

The lender attributed the growth to increased asset volume incomes and net interest margin expansion.

The lender’s operating income grew by 10% to Ksh 24.5 billion from Ksh 22.2 billion in Q3 2021. Operating expenses grew by 9% to Ksh 116 billion, reflecting the impact of inflation, increase in amortization charges, and increased investment spending on digital capabilities.

“We have achieved this performance by actively supporting our clients in an increasingly unpredictable operating environment,” said Kariuki Ngari, Standard Chartered Bank CEO.

In the period, loan impairment declined by 77% to Ksh 621 million from KSh 2.68 billion as the economic environment rebounded.

Net customer loans and advances were up 8% to Ksh 136 billion, reflecting the recovery of clients’ businesses.

Customer deposits hit Ksh 286.1 billion from Ksh 258.4 billion.

The bank’s board of directors has announced an interim dividend of Ksh 6.00 for every ordinary share of Ksh 5.00 for the period.

“We find the growth on both its loan book and Government securities line commendable given that the bank has broadly adopted a conservative lending strategy thus far regarding lending to the private and public sectors,” Sterling Capital says in Standard Chartered Bank Kenya Ltd – Q3 2022 Earnings Update.

“Of concern is the growth in the bank’s NPLs, which will work to dissuade further lending, but the continued ramp-up in recoveries will result in a reduction in this metric in the medium term.

We note that the benefit of lower provisions continues to drive up the bank’s bottom line; however, the bank has begun increasing its provisions on a QoQ basis in line with our expectations.”


Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.

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