Stanbic Holdings has reported a net profit of Sh6.6 billion for the six months ended June 30, supported by strong growth in lending, customer deposits and a disciplined risk management strategy despite what it described as a dynamic operating environment.
The bank’s total assets grew by 27 percent to Sh602 billion, while customer deposits rose 28 percent to Sh422 billion, reflecting continued expansion of its customer base.
Customer loans also recorded robust growth, increasing by 24 percent to Sh290 billion, driven by higher lending to businesses and key sectors of the economy.
Stanbic Holdings Chief Executive Joshua Oigara said the lender’s first-half performance underscored the strength of its strategy and commitment to supporting Kenya’s economy.
“Our performance in the first half demonstrates the discipline and resilience that continue to define our business. We remain well-capitalised, deeply customer-centric, and steadfast in our commitment to support Kenya’s economic growth,” Oigara said.
He added that prudent risk management and continued investment in technology had enhanced customer experience while creating value for shareholders.
The lender maintained a credit loss ratio of 0.5 percent, one of the strongest in the banking sector, while its non-performing loan (NPL) ratio stood at 7.73 percent, remaining below the industry’s average.
Chief Financial and Value Officer Dennis Musau attributed the results to disciplined execution, cost management and an improving economic environment.
“Our half-year financial performance reflects a disciplined balance between revenue growth, cost optimisation and proactive risk management. While the operating environment remains dynamic, our strategic investments, execution discipline and strong risk management framework position us well to capture opportunities and deliver sustainable value for our stakeholders,” Musau said.
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