Stanbic Bank has announced a reduction in its net profit for the first quarter of the 2025 financial year. The Stanbic Bank Q1 net profit has dropped 17 percent from 4 billion that was recorded in the previous year to Sh3.3 billion.
“Our fundamentals remain resilient with demonstrable growth in core customer segments, a disciplined risk management approach and continued investment in technology and innovation. As we navigate a dynamic operating environment, we stay focused on partnering with our customers, strengthening stakeholder relationships, and delivering sustainable, long-term value,” said Dennis Musau, the bank’s chief financial and value officer.
In the period under review, customer deposits also went down by 5 per cent to close the quarter at Sh337.6 billion from the previous Sh356 billion. Customer loans dipped by 5 percent to settle at Sh244 billion from the Sh256 billion that was recorded in the same period in 2024.
At the same time, the lender’s total assets reduced by 8.4 percent to come in at Sh450.1 billion. In the first quarter of 2024, total assets had come in at Sh491.5 billion while in the full year 2024 that concluded on December 31, total assets had been recorded at Sh445.2 billion.
The lender realized Sh3 billion income from government securities and Sh7.1 billion from loans and advances. Total interest income dipped by 8.9 percent to Sh11 billion. In the same period the previous year, total interest income had stood at Sh12 billion.
Total non-interest income which included income from fees and commissions, foreign exchange trading income, and dividend income stood at Sh2.7 billion down from the Sh3.7 billion that was realized in the same period the previous year. In the period, the bank saw a 20.5 percent return on equity.
Stanbic Bank Kenya to join China’s interbank payment system
“Our Q1 2025 results reflect the dynamic shifts within our operating environment, shaped by both local and global economic headwinds. We continue to assess these market dynamics and respond appropriately, leveraging our robust strategies and operational flexibility to maintain a strong foundation for future growth” said Dr. Joshua Oigara, the chief executive officer for Stanbic Kenya and South Sudan.
“Encouraging signs of continued economic recovery and stability, coupled with a clear strategic roadmap, position us well to navigate the year ahead in delivering long term sustainable value for our stakeholders.”
