Standard Chartered Bank Kenya has announced that it has reported in profit after tax at Ksh. 4.86 billion for the first quarter of 2025. This is a 13.5% decline in profit after tax after reporting Ksh. 5.61 billion during the same period in 2024.

The primary driver for the profit reduction was a significant 59.1% plunge in forex trading income, which negatively impacted overall non-interest revenue. Total operating income consequently fell by 11.2% to Ksh. 11.60 billion, reversing the double digit growth over the past two years.

While net interest income remained relatively steady at Ksh. 8.21 billion, slipping just 0.8% year-on-year, non-interest income sharply decreased to Ksh. 3.39 billion from Ksh. 4.79 billion in Q1 2024.

In addition to reduced trading income, Standard Chartered Bank Kenya experienced a contraction in its net loan book (down 10.2%) and customer deposits (down 6.8%). This suggests a more cautious approach to credit deployment and evolving funding dynamics.

The capital adequacy ratio rose to 20.63%, well above the minimum requirement of 14.5%, and liquidity improved to 73.64%, indicating a healthy cushion against near-term uncertainties.

Furthermore, loan loss provisions declined to Ksh. 0.41 billion, down from Ksh. 0.79 billion last year, reflecting stable asset quality. Operating expenses also saw a decrease to Ksh. 4.95 billion from Ksh. 5.42 billion in the prior year, contributing to mitigating the profit decline.

Metric Q1 2025 Q1 2024 YoY Change
Operating Income KSh 11.60Bn KSh 13.06Bn ▼ 11.2%
Net Interest Income KSh 8.21Bn KSh 8.27Bn ▼ 0.8%
Non-Interest Income KSh 3.39Bn KSh 4.79Bn ▼ 29.3%
Profit Before Tax (PBT) KSh 6.64Bn KSh 7.64Bn ▼ 13.2%
Profit After Tax (PAT) KSh 4.86Bn KSh 5.62Bn ▼ 13.5%
Net Loans to Customers KSh 137.86Bn KSh 153.58Bn ▼ 10.2%
Customer Deposits KSh 285.21Bn KSh 306.01Bn ▼ 6.8%
Total Assets KSh 382.26Bn KSh 391.34Bn ▼ 2.3%
Govt Securities (FVOCI) KSh 89.27Bn KSh 103.07Bn ▼ 13.4%
FX Trading Income KSh 1.03Bn KSh 2.53Bn ▼ 59.1%
Capital Adequacy Ratio (CAR) 20.63% 18.45% ▲ +2.18 pp