StanChart profit jumps 70 % to Shs 12.6 billion

Standard Chartered Bank Kenya has reported a 70 per cent growth in profits before tax for the first time in 5 years as the economy slightly rebounded from the Covid-19 impact. Full year results shows the lender’s net profit rose to 12.6 billion shillings compared to 7.4 billion shillings over a similar period in 2020. The lender attributed the growth to innovations, partnerships and digitization whilst maintaining a tight control on expenses with underlying efficiencies funding and continual investment.

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