Standard Chartered Bank of Kenya has reported a 38.2 percent drop in net profit for the nine months ended September, while disclosing the Sh7.2 billion cost of settling the pension claim awarded by the Supreme Court to its former employees.
The bank reported a net profit of Sh9.7 billion, down from Sh15.8 billion over a similar period last year, attributable to a Sh2.7 billion one-off cost included in staff expenses for making partial payment towards the court settlement.
