Standard Chartered Bank has posted a net profit of Kes6.9 billion, representing a 28 per cent increase in the half-year ending June, compared to the 5.4 billion recorded in a similar period in 2022.

The lender has attributed the increase to strong topline growth.

Standard Chartered Bank Chief Executive Officer(CEO) Kariuki Ngari noted that net interest income grew 38 per cent to Kes 14.6 billion, and non-interest revenue jumped 27 per cent to Kes 7 billion.

“We have delivered a strong financial performance in the first half of the year, and we have achieved these results by focusing on our clients, supporting our colleagues and staying true to our brand promise, here for good.”

Further, he noted that the Bank is conscious of its external macroeconomic headwinds globally and locally.

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“With inflation starting to cool off and the measures being taken by both the monetary and fiscal authorities to stabilise our economy, we are optimistic of a better external environment in the second half of the year.”

Likewise, net loans and customer advances increased four per cent to Kes 145 billion from December 31, 2022.

Customer deposits also slightly went up by 2 per cent.