StanChart profit falls 13pc as forex, loans income drop

Standard Chartered Bank branch on Kenyatta Avenue. 

Photo credit: File | Nation Media Group

Standard Chartered Bank Kenya has reported a 13.5 percent drop in profit after tax for the three months ended March, owing to a shrink in its loan book and decline in forex income.

The bank reported a net profit of Sh4.8 billion down from Sh5.6 billion over a similar period last year, as its core business took a hit.

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Note: The results are not exact but very close to the actual.