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Stanbic first bank to offer interim dividend payout

Stanbic Holdings is the first bank to reinstate interim dividends after its net profit surged 37 percent. ....

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Top banks set aside Sh109bn for loan losses

Top banks set aside Sh109bn for loan losses
Tuesday April 06 2021
By VICTOR JUMA
Summary
Higher provisions have the effect of hitting the bottom-line while eroding the capital base and led to dividend payouts from listed banks falling 43.6 percent to Sh19 billion.
The economic disruption brought by the Covid-19 pandemic is the biggest driver of the increased provisions, with most sectors including tourism, transport, real estate and households hurt by the fallout.
Kenya’s top nine listed banks raised their provision for non-performing loans by a record Sh77.3 billion in the year ended December, cutting their combined net earnings by 25.5 percent to Sh81.2 billion. ....

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Stanbic announces a reduced Ksh. 5.2 billion net profit for FY 2020

Stanbic announces a reduced Ksh. 5.2 billion net profit for FY 2020
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Stanbic Holdings has announced that it has registered a profit after tax of Ksh. 5.2 billion for the year ended 31st December 2020. This represents a reduction from the Ksh. 6.3 billion the company posted over the same period in 2019.
Total income also reduced to Ksh. 23 billion from Ksh. 24 billion in 2019 while operating expenses reduced to Ksh. 12 billion from Ksh. 13 billion.
The board of directors of the company have recommended a dividend per share of Ksh. 3.80 for the financial period ending 31st December 2020. This is reduction from Ksh. 7.05 per share paid in the same period in 2019. ....

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Kenya's Stanbic 2020 pretax profit falls 19%

Kenya's Stanbic Holdings posted a 19% drop in its full-year pretax profit, as its interest income dropped and credit impairment costs rose. ....

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Stanbic Holdings after-tax profit drops to Sh5.2 billion

“We also restructured loans worth Sh40 billion, directing Sh3.1 billion towards small medium-sized enterprises, SMEs and lowered interest rate in line with regulations saving our clients Sh665 million in interest.”
The Group increased its provisioning to reflect the worsening credit risk on the back of layoffs and liquidity constraints on businesses caused by the pandemic. However, customer deposits increased by 12 per cent while customer loans and advances grew by 4 per cent.
“Despite a challenging operating environment, we stood shoulder to shoulder with our clients and the Kenyan community when it really mattered the most,” said Charles Mudiwa, Chief Executive of Stanbic Bank Kenya. ....

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