Banks
Stanbic’s Records Net Profit Rise by 0.1 Billion
For the financial year ended 31st December 2019, Stanbic Holdings Plc has posted an increase in net earnings to KSh 6.4 billion. This is a slight improvement from the net profit recorded in 2018 that was KSh6.3 billion.
Stanbic Holdings Plc, formerly known as CfC Stanbic Holdings Limited, is a financial services organization in Kenya. Its subsidiaries include Stanbic Bank Kenya Limited, SBG Securities Limited and CFC Holdings Limited
In 2019, there was an increase in loans and advances to banks and customers to KSh 191.2 billion compared to the previous period that was KSh 174.9 billion.
Net interest income increased from 12.1 billion to KSh 13.3 billion while total operating expenses grew from KSh 11.1 billion to KSh 13.9 billion during the period under consideration.
Deposits from banks and customers grew from KSh219.5 billion to KSh 224.7 billion while the size of its balance sheet increased to KSh 303.6 billion in 2019 compared to KSh 290.6 billion in 2018.
There has been a KSh 2 billion increase in Stanbic Holdings’ borrowing from KSh 7.1 billion to KSh 9.1 billion.
A final dividend of KSh 5.80 was declared by directors of the company for each ordinary share held. This is added to an interim dividend of KSh 1.25 which has brought the full dividend to KSh 7.05.
