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CFC Stanbic posts 57 pct rise in 2013 profit

03 March 2014, 08:24

Nairobi - CFC Stanbic Holdings posted a 57 percent rise in 2013 pretax profit to 7.22 billion shillings, in line with strong growth notched up by other listed financial institutions last year.

CFC Stanbic Holdings, controlled by South Africa's Standard Bank, operates a bank, CFC Stanbic Bank, and a financial services firm in Kenya, where the economy grew by 5.1 percent last year.

CFC Stanbic Holdings said its net interest income rose to 7.54 billion shillings from 6.54 billion shillings in 2012, while total assets jumped to 180.51 billion shillings from 143.21 billion.

Earnings per share from continuing operations grew to 12.97 shillings from 9.90 shillings in the year-ago period. The company plans to pay a total dividend of 2.15 shillings per share, up from 0.73 shilling in 2012.

- Reuters


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