Stanbic Holdings posted a net profit of Sh6.6 billion for the six months ended June 30, driven by growth in lending and customer deposits despite a dynamic operating environment.
The lender said the growth in customer base pushed total assets up 27 percent to Sh602 billion while customer deposits grew 28 percent to Sh422 billion.
Customer loans increased by 24 percent to Sh290 billion, driven by higher lending to businesses and key sectors of the economy.
“The results are a reflection of the bank’s disciplined strategy and focus on supporting economic growth,” said Chief Executive Joshua Oigara.
“Our performance in the first half demonstrates the discipline and resilience that continue to define our business. We remain well-capitalized, deeply customer-centric, and steadfast in our commitment to support Kenya’s economic growth,” Oigara said.
He added: “Prudent risk management and ongoing investment in technology have enhanced customer experience while delivering value for shareholders.
The bank’s credit loss ratio was one of the best in the sector at 0.5 percent, while its non-performing loan (NPL) ratio stood at 7.73 percent, much lower than the banking industry’s average.
Chief Financial and Value Officer Dennis Musau said, “The performance was driven by disciplined execution and improving economic conditions.
“Our half-year financial performance reflects a disciplined balance between revenue growth, cost optimization, 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.
