StanChart half year profit dips 34pc on rate cap

StanChart’s CEO Lamin Manjang. FILE PHOTO | NMG

StanChart Kenya’s #ticker:SCBK net earnings for the six months to June dropped by more than a third weighed down by lower interest income as the interest rate cap narrowed the lender’s earnings from loans.

The British lender posted an after tax profit of Sh3.4 billion as at June 2017 compared to Sh5.2 billion made in a similar period a year earlier, a drop of 34.4 per cent.

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