Business

Stanbic Bank made 200 billion net profit in 2017

In-spite the rather rocky business environment, the leading financial institution has attributed its growth to giving its customers access to credit, investment in technology & efficient management processes among others

Shareholders of Stanbic Bank, will now receive a whopping 90 Billion Shillings in dividend pay-out, following the lenders sterling performance for the year 2017; in which it returned a net profit of 200 Billion shillings.

Stanbic’s Board Chief Executive Patrick Mweheire, says that the bank has over the year also managed to bring down its credit loss ratio from 1.8% in 2016 to 1.3% last year, while cost to income also came down from 52.1 to 50.5%.

And In-spite the rather rocky business environment, the leading financial institution has attributed its growth to giving its customers access to credit, investment in technology & efficient management processes among others.

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