Standard Chartered Bank #ticker:SCBK has appointed corporate finance advisory firm Cassia Capital Partners' founder, Imtiaz Khan, as a non-executive director.
Mr Khan joins the board of the lender which posted a 30 per cent rise in half year net profit to Sh4.46 billion, signalling a recovery from last year’s profit warning.
During the period, net interest income grew by 7.5 per cent to Sh9.84 billion, lifted by a 23 per cent rise in interest income from government securities to Sh6.42 billion. This, according to Standard Chartered was attributable to a combination of favourable macroeconomic conditions in the first six months this year relative to 2017 and efforts to improve the quality of the asset book.
Mr Khan has been serving as the Director at Cassia Capital Partners since 2008 and Chairman of the Oltepesi Investment Company since 2009.
He sat on the board of Centum as a non-executive director for nearly nine years between 2008 and 2017. He also chaired its audit and risk committees.
Mr Khan also teaches at the Stanford SEED programme run by Stanford University.
He has global experience on private equity, corporate finance and investment management garnered at the International Finance Corporation and management consulting, corporate finance. He also has audit experience with Price Waterhouse.