StanChart online money market fund hits Sh1bn

Standard Chartered Bank of Kenya last year spent Sh205.63 million on redundancies.

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Standard Chartered Bank Kenya's online money market fund has hit Sh1.25 billion in under a year, highlighting the growing popularity of savings products for customers seeking investments of as low as Sh100.

The product, called SC Shilingi Fund, was launched mid-February last year and has attracted over 10,000 customers who enrol with at least Sh500 and opt for daily, weekly, monthly or one-off contributions.

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