Stanbic Bank has reported a significant profit after tax of Sh10.1 billion for the nine-month period ending September 30, 2024. This financial achievement represents a nine per cent year-on-year growth for the bank operating in Kenya and South Sudan.

• The substantial profit increase is primarily driven by improved net interest income, which grew by five per cent to Sh18.9 billion, supported by a 12 per cent balance sheet growth to Sh463 billion.
• Dr. Joshua Oigara, Chief Executive Officer of Stanbic Bank Kenya and South Sudan, highlighted the bank's resilience amidst a challenging macroeconomic environment.
• Operating costs for the period notably decreased by five per cent, attributed to past investments in client experience and foreign exchange gains from the appreciation of the Kenya Shilling.