Weekly Markets Update | EP 9: Stanbic Results, Expected Banking Financials, Expected Profit Warnings, Safaricom Interim Dividend and Impact of the Stimulus Package
Stanbic's income dropped by 18.6% to Ksh 5.2 billion with a notable reduction in net interest income, which fell by 4.8% while loan loss provisions rose by 54% following reliefs and restructured due to COVID-19. However, the bank grew its deposits, loans and investments. There are 18 profit warnings, with more expected to come.
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