Standard Chartered – Q3 2022 Results

Standard Chartered Bank Kenya Limited has released its results for the nine months ended 30 September 2022.

Kariuki Ngari, Chief Executive Officer, said:

“We have delivered a strong performance in the nine months ended 30 September 2022 with profit before tax increasing 38% year on year. Healthy business momentum continues to drive growth with income up 10%. Costs increased 9% because of inflationary pressure as well as investment spend, whilst expected credit losses have significantly reduced year-on-year. We have achieved this performance by actively supporting our clients in an increasingly unpredictable operating environment. I am also pleased to announce that the Board approved the payment of an interim dividend of KShs 6.00 to our ordinary shareholders.”

Summary financial performance

  • Income increased 10% due to asset volumes growth, expansion in net interest margins and favourable market movements.
  • Operating expenses were up 9% reflecting the impact of inflation, increase in amortisation charges as well as increased investment spend on digital capabilities.
  • Loan impairment declined by 77% benefitting from improved delinquencies as the economic environment continues to rebound.

Asset quality remained stable however we continue to be alert to a volatile external environment.

  • Net customer loans and advances were up 8% reflecting the recovery of our clients’ businesses.  
  • Customer deposits continued to grow with funding quality remaining high – current and savings accounts making up 93% of total customer deposits.


The directors are pleased to announce the payment of an interim dividend of KShs 6.00 for every ordinary share of KShs 5.00. The Board recognises the importance of dividends to shareholders and remains committed to sustainable shareholder returns.

Concluding remarks

We continue making inroads in our sustainability agenda and are making good progress. We will continue to focus on executing our strategy, investing in areas of our competitive strength, and supporting our clients and communities.

Also Read: Standard Chartered Bank Kenya Half Year 2022 Results

The external environment remains challenging although with the steady drop of oil prices, inflationary pressure might abate in the short term. The impact of Russian invasion of Ukraine continues to cast a dark cloud on the Global economy..

Financial performance summary

2022 vs 2021
KShs millionKShs million%
Net interest income 15,784 14,7127
Non funded income 8,778 7,56016
Total operating income 24,562  22,27210
Operating expenses (11,646) (10,695)(9)
Loan impairment (621) (2,681)77
Profit before taxation 12,295  8,89638
Taxation (3,582) (2,541)(41)
Profit after taxation 8,713  6,35537
KShs millionKShs million%
Balance Sheet
Loans and advances to customers  136,072125,9758
Customer deposits286,074265,4698
Loans to deposits ratio48%47%
Core capital41,48140,822
Core capital ratio15.42%15.53%
Total capital47,48546,670
Total capital ratio17.66%17.76%



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