Standard Chartered Bank Kenya recorded a 34 per cent surge in full-year net profit for 2022 to KSh12.1 billion.
Kariuki Ngari, Chief Executive Officer, said: “We have delivered a strong set of results in 2022, with profit before tax up by 36 per cent, with business momentum driving top-line growth of 16 per cent. Our Wealth Management, Transaction Banking and Financial Markets products performed strongly.”
“I am particularly pleased with our discipline around expenses that helped us navigate the inflationary pressures of 2022 but still allowing us room to invest in our digital capabilities.”
| KShs billion | 31.12.2022 | 31.12.2021 | YoY | |||
| % | ||||||
| Net interest income | 22.2 | 18.8 | 18 | |||
| Non funded income | 11.8 | 10.4 | 13 | |||
| Total operating income | 34.0 | 29.2 | 16 | |||
| Operating expenses | (15.6) | (14.5) | 8 | |||
| Loan impairment | (1.3) | (2.1) | (38) | |||
| Profit before tax | 17.1 | 12.6 | 36 | |||
| Tax | (5.0) | (3.6) | 39 | |||
| Profit after tax | 12.1 | 9.0 | 34 | |||
| EPS | 31.47 | 23.49 | 34 | |||
| Increase/ | ||||||
| KShs billion | 31.12.2022 | 31.12.2021 | (Decrease) | |||
| Balance Sheet | % | |||||
| Loans and advances to customers | 139.4 | 126.0 | 11 | |||
| Customer deposits | 278.9 | 265.5 | 5 | |||
| Loans to deposits ratio | 50% | 48% | 200bps | |||
| Capital | ||||||
| Core capital (KShs billion) | 42.1 | 40.8 | ||||
| Core capital ratio | 15.36% | 15.53% | (17)bps | |||
| Total capital (KShs billion) | 47.4 | 46.7 | ||||
| Total capital ratio | 17.28% | 17.76% | (48)bps |
As a result, it has proposed a final dividend of KSh16 per share, bringing the total payout to KSh22 per share. This is in addition to the interim dividend of KES 6.00 paid in December 2022.
