The Lower Eastern Times Opening The Third Eye
Stanbic Holdings has announced a net profit of Sh6.6 billion for the six months ended June 30, supported by robust growth in customer lending and deposits despite a challenging business environment.
During the period, the bank’s total assets increased by 27 percent to Sh602 billion, while customer deposits rose by 28 percent to Sh422 billion, reflecting continued expansion of its customer base and stronger deposit mobilisation.
The lender also reported a 24 percent growth in its loan book to Sh290 billion, driven by increased financing to businesses and other key sectors of the economy.
Chief Executive Joshua Oigara said the results demonstrate the bank’s disciplined execution of its strategy and its continued commitment to supporting Kenya’s economic growth.
He noted that the lender remains well-capitalised and customer-focused, adding that prudent risk management and sustained investment in technology have enhanced customer experience while creating value for shareholders.
Stanbic also maintained a credit loss ratio of 0.5 percent, one of the strongest performances in the banking sector. Its non-performing loan (NPL) ratio stood at 7.73 percent, remaining below the industry average.
Chief Financial and Value Officer Dennis Musau said the lender’s half-year performance was driven by a balanced approach to revenue growth, cost management and risk control.
He added that although the operating environment remains dynamic, the bank’s strategic investments, disciplined execution and strong risk management framework have positioned it to seize growth opportunities while delivering sustainable value to its stakeholders.
