Stanbic Half-year profit rises 14.38% to Ksh 4bn

Stanbic Holdings has posted a 14.38 percent jump in net profit in the half-year ended June, boosted by higher interest and non-interest income.

The lender made a net profit of Sh4 billion in the period, compared to Sh3.5 billion in the same period last year.

Net interest income jumped 19.51 percent to Sh6.7 billion as non-interest income mainly from fees and commissions rose 10.15 percent to Sh6.1 billion.

Stanbic becomes the second lender after Equity Bank to announce growth in half-year results.

Equity Bank’s half-year net profit increased nine percent to Sh12 billion as the lender cut back its loans to the Treasury in favor of the mass market