Stanbic Holdings reports Sh5bn net profit for 2020

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A Stanbic Bank branch on Kimathi Street, Nairobi. FILE PHOTO | NMG

Stanbic Holdings #ticker:SBIC has reported a 18.6 per cent drop in its full-year to December 2020 net profit on subdued interest income and higher loan provisions as Covid-19 pandemic hit the economy.

The Nairobi Securities Exchange-listed lender made Sh5.19 billion last year down from Sh6.38 billion recorded in 2019.

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Note: The results are not exact but very close to the actual.