Stanbic Bank Holdings has announced a profit of Ksh7.2 billion for the year ended 31 December 2021.
This represents a 39 percent increase in profit after tax from last year’s performance and is attributable to solid business momentum and various interventions that enabled the Group and its customers to weather the economic challenges occasioned by the pandemic.
The Company also announced a Ksh2.9 billion final dividend bringing the total dividend for the year to Ksh3.6 billion, considering it paid Ksh0.7 billion in interim paid in August 2021.
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Once approved at the annual general meeting, the total dividend payout will represent 50 percent of the Stanbic Bank profit for the year and a 137 percent increase from last year’s amount.
“Our focus has been on supporting our customers to navigate the pandemic and drive sustainable business growth. We rolled out various solutions that have improved client experience and expediency while driving scale in the retail segment. From their digital customer onboarding solution, the flexibility to buy motor insurance via the Stansure app, and digital lending on Stanbic’s mobile app,” said Stanbic’s Chief Executive, Mr Charles Mudiwa.
“We are glad to have achieved this objective courtesy of our dedicated team and strong partnerships. Our future-ready digital transformation journey continues to simplify our customers’ banking experience in a way that empowers and gives them more control.”