Stanbic Bank full year revenue decreased by 4pc to Ksh 39.7 billion on account of reduced lending which saw the lender’s loan book shrink by 11.6pc
In 2024, the bank’s loan book declined to Ksh 230.32 billion.
However according to Stanbic Bank Chief Executive Officer Joshua Oigara credit activity uptick is expected in the second quarter as the government announces payment of pending bills to the SME sector and reduced domestic borrowing by the government.
The lender reported a Ksh 13.7 billion after-tax profits driven by increased transaction volumes and reduced operational costs.
Year-on-year customer deposits also reduced by 2.4pc to Ksh 339 billion.
The lender has warned that the recent suspension of USAID operations by the US government will affect its subsidiaries operations in the neighboring countries.
Stanbic Bank has announced a dividends of Ksh 20.74 per share.
