Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


StanChart's pretax profit jumps 31 pct in first quarter

30 May 2014, 08:16

Nairobi - Standard Chartered Bank of Kenya raised its pretax profit in the first quarter by almost a third to 3.6 billion shillings ($41 million), compared to the same period a year earlier, the lender said on Thursday.

The bank, which is controlled by Standard Chartered Plc, grew its net interest income by 19 percent during the period to 4.5 billion shillings, it said in a statement.

Lamin Manjang, the bank's chief executive, said he expected the first quarter momentum in the business to gather pace as the year goes on, due to opportunities in infrastructure construction as well as in the energy and manufacturing sectors.

Non-performing loans rose to 11.2 billion shillings during the first quarter, from 2.2 billion shillings in the same period last year, as a small number of large borrowers experienced difficulties.

"While we do not see a broad-based deterioration in asset quality, we have increased the number of clients subject to additional, precautionary monitoring," the bank said.

- Reuters


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Cyril Mike Odhiz
Kenyans furious on young lady aft...

A young Kenyan woman is the talk of town after she posted a photo with her elderly lover after a round of steamy sex, or so the photo suggested.  Read more...

Submitted by
Kiplangat langat
Uhuru could be a one term Presid...

Bomet governor Isaac Ruto has said that President Uhuru Kenyatta could be a one term President if he fails to increase allocations to the counties. Read more...

Submitted by
Mody Sammy
35 year old farmer a new milliona...

A 35 year old farmer from Mpeketoni Lamu county has become the latest millionaire in town as she became winner in the ongoing ‘Shinda Mamili na Story Ibambe’. Read more...

Submitted by
Shakila Alivitsa
Leave your past relationship bagg...

Leave your past relationship baggage at the door when you start a new relationship. Read more...

Submitted by
Shakila Alivitsa
Advice from a young married Kenya...

I was just going to get water in the office kitchen and thought a simple hi was fine until I ended up in an hour long conversation with someone. Read more...

Submitted by
Shakila Alivitsa
Helping you find the type of man ...

To put it simply, you can’t go looking for fish in a meat market; you have to go to a fish market. Read more...