Stanbic cuts loan loss provisions by half as repayments improve

The lender said the decline in the cost of credit was accompanied by an improvement in its loan-loss coverage ratio, indicating better asset quality...

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Stanbic Holdings has significantly reduced its loan loss provisions by nearly half due to improved customer repayments and a strengthening economy. This positive trend has also led to an increase in the bank's loan-loss coverage ratio.

Loan impairment charges reduced by approximately 50%.
Stanbic Holdings, specifically highlighted by Chief Financial Officer Dennis Musau.
Loan-loss coverage ratio improved from 62% to 68% year-on-year.

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