Standard Chartered Bank Kenya is to pay a record dividend of Sh13.9 billion after posting a 45 percent jump in its full-year profit to Sh20.1 billion for the period ended December 2024.
The bank has declared a dividend of Sh37 per share, taking its total dividend payout for the period to Sh45 per share, after paying an interim dividend of Sh8 per share in October last year.
The bank’s 45 percent growth in net profit was largely driven by higher income, which rose 21 percent to Sh17.4 billion from Sh12.4 billion.
Non-interest income grew the fastest at 40 percent to Sh17.4 billion from Sh12.4 billion, while net interest income grew slower at 13 percent to Sh33.3 billion from Sh29.3 billion.
“Non-interest income was up 40 percent driven by strong transaction services, markets, wealth solutions supported by a well-positioned trading book,” the bank said in a trading statement on Wednesday.
The bank kept a lid on costs, with total expenses rising by eight percent to Sh20.1 billion from Sh18.7 billion as the lender cut its loan impairment costs to Sh2.4 billion from Sh3.4 billion last year.
