Stanbic Holdings reports Sh5bn net profit for 2020 Friday March 05 2021 By ELIZABETH KIVUVA The Nairobi Securities Exchange-listed lender made Sh5.19 billion last year down from Sh6.38 billion recorded in 2019. The profit of Stanbic Bank and its investment arm, SBG Securities, both declined by 19 per cent and 71 per cent respectively pulling down the group’s performance. Higher loan provisioning across the banking industry ate into the lenders’ profitability as bad loans and cost took a sharp rise in an economy that was battered by the pandemic-related woes. Six of the 11 listed banks have already notified shareholders they will be reporting substantially lower profits and are therefore unlikely to be paying dividends for the year.