CfC Stanbic in Kenya boosts profits

[Standard Bank Team]

Standard Bank Group’s Kenyan operation, CfC Stanbic Holdings, recorded a 52% increase in profit after tax for the period ended June 2014. The earnings stood at Ksh3.4-billion (about US$3.8-million), up from the Ksh2.2-billion (US$2.5-million) posted over the same period last year.

The growth was as a result of improved revenues from trade finance in South Sudan, cost discipline, growth in loans and advances, a lower credit impairment charge as well as improved performance from SBG Securities.

Standard Bank Group will on 14 August release its financials for the first half of 2014. #SBGresults

For more on CfC Stanbic's results see ‪ http://blog.standardbank.com/node/61325.