Stanbic Holdings paid its South Africa-based parent company Standard Bank franchise fees of Sh944 million in the year ended December, a 28.9 percent increase from the prior year when it remitted Sh732 million.
The Nairobi Securities Exchange-listed firm did not give further details on the payouts but such fees, rare among the local listed banks, are typically paid to the franchise owner for business support, use of its brand or access to its marketing muscle.
