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Standard chartered bank Kenya posted 13.2 billion shillings in profit before tax in q3, despite a sharp drop in operating income and a one-off 2.7 billion shilling pension cost tied to recent court rulings.
The lender’s balance sheet remained solid, with assets under management up 23 percent to 290 billion shillings. Liquidity stood at nearly 67 percent, and asset quality improved as the non-performing loan ratio fell to 5.9 percent. the bank says it has substantially complied with retirement benefits appeals tribunal orders while continuing to strengthen its wealth management strategy amid a stable but uncertain macroeconomic environment
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