By Silvia Nyambura
Stanbic Bank has posted a 12% growth in profits to record Ushs 150.8 billion for the year ending December 2015 compared to Ushs 135 billion in 2014. The bank also recorded Ushs 532.5 billion in revenues with overall deposits averaging at Ushs 3.1 trillion up by 12% from the previous year. The total loan book grew by 20%, with an end year closing balance of Ushs 2.2 trillion up from Ushs 377 billion in 2014. The credit loss ratio fell to 1.5% from 2.3% in the previous year.
“Our results in 2015 were generated through a balanced mix of net interest income and non-interest revenue. This was reflective of the strength of our diversified business model and the success of our customer centric approach, which focuses on delivering relevant and convenient products and services to our clients. We are pleased that our customers and the businesses we are financing are operating successfully and contributing positively to the wider economy,
