Standard Chartered Bank Kenya Limited
The Board of Directors of Standard Chartered Bank Kenya Limited is pleased to announce the un-audited results of the Bank and the Group for the six month period ended 30 June 2023
STATEMENT OF FINANCIAL POSITION
ASSETS
Cash (both local and foreign)
Balances due from Central Bank of Kenya
Kenya Government and other securities held for dealing purposes
Financial assets at fair value through profit and loss Investment securities:
- Amortised cost:
- Kenya Government securities
- Other securities
- Fair value through other comprehensive income (FVOCI)
- Kenya Government securities
- Other securities
Deposits and balances due from local banking institutions Deposits and balances due from banking institutions abroad Tax recoverable
Loans and advances to customers (net)
Balances due from banking institutions in the group Investments in associates
Investments in subsidiary companies Investments in joint ventures Investment properties
Property and equipment Prepaid lease rentals Intangible assets Deferred tax asset Retirement benefit asset Other assets
TOTAL ASSETS
LIABILITIES
Balances due to Central Bank of Kenya Customer deposits
Deposits and balances due to local banking institutions Deposits and balances due to foreign banking institutions Other money market deposits
Borrowed funds
Balances due to banking institutions in the group Tax payable
Dividends payable Deferred tax liability Retirement benefit liability Other liabilities
TOTAL LIABILITIES SHAREHOLDERS' FUNDS Paid up/assigned capital Share premium/(discount) Revaluation reserves
Retained earnings/(accumulated losses) Statutory loan loss reserves
Other reserves (fair value) Proposed dividends Capital grants
TOTAL SHAREHOLDERS' EQUITY
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
STATEMENT OF COMPREHENSIVE INCOME
INTEREST INCOME
Loans and advances Government securities
Deposits and placements with banking institutions Other interest income
Total interest income
INTEREST EXPENSES
Customer deposits
Deposits and placements from banking institutions Other interest expenses
Total interest expenses
NET INTEREST INCOME/(LOSS)
NON-INTEREST INCOME
Fees and commissions on loans and advances Other fees and commissions
Foreign exchange trading income/(loss) Dividend income
Other income/(loss)
Total non-interest income
TOTAL OPERATING INCOME
BANK | GROUP | III. OTHER DISCLOSURES | BANK | ||||||||||||||||||
30.06.2023 | 31.03.2023 | 31.12.2022 | 30.06.2022 | 30.06.2023 | 31.03.2023 | 31.12.2022 | 30.06.2022 | 30.06.2023 | 31.03.2023 | 31.12.2022 | 30.06.2022 | ||||||||||
KShs.000 | KShs.000 | KShs.000 | KShs.000 | KShs.000 | KShs.000 | KShs.000 | KShs.000 | KShs.000 | KShs.000 | KShs.000 | KShs.000 | ||||||||||
Un-audited | Un-audited | Audited | Un-audited | Un-audited | Un-audited | Audited | Un-audited | Un-audited | Un-audited | Audited | Un-audited | ||||||||||
1) NON-PERFORMING LOANS AND ADVANCES | |||||||||||||||||||||
3,652,960 | 3,489,983 | 3,457,845 | 3,024,027 | 3,652,960 | 3,489,983 | 3,457,845 | 3,024,027 | a) Gross non-performing loans and advances | 23,796,136 | 22,597,977 | 22,577,388 | 22,741,080 | |||||||||
9,886,203 | 12,515,308 | 19,799,461 | 27,377,869 | 9,886,203 | 12,515,308 | 19,799,461 | 27,377,869 | b) Less: Interest in suspense | 9,685,559 | 9,301,240 | 9,539,146 | 9,207,177 | |||||||||
1,385,790 | 2,171,589 | 965,720 | 2,789,058 | 1,385,790 | 2,171,589 | 965,720 | 2,789,058 | c) Net non-performing loans and advances (a-b) | 14,110,577 | 13,296,737 | 13,038,242 | 13,533,903 | |||||||||
d) Less: Loan loss provisions | 10,499,341 | 10,309,882 | 10,131,278 | 9,868,798 | |||||||||||||||||
745,304 | 828,358 | 421,705 | 384,048 | 745,304 | 828,358 | 421,705 | 384,048 | ||||||||||||||
e) Net non-performing loans (c-d) | 3,611,236 | 2,986,855 | 2,906,964 | 3,665,105 | |||||||||||||||||
f) Realizable value of securities | 2,103,897 | 2,186,417 | 2,268,159 | 2,936,307 | |||||||||||||||||
- | - | - | - | - | - | - | - | g) Net NPLs exposure (e-f) | 1,507,339 | 800,438 | 638,805 | 728,798 | |||||||||
2) INSIDER LOANS AND ADVANCES | |||||||||||||||||||||
- | - | - | - | - | - | - | - | a) Directors, shareholders and associates | 26,491 | 24,923 | 55,704 | 76,505 | |||||||||
69,300,569 | 92,900,668 | 104,731,162 | 100,771,113 | 69,300,569 | 92,900,668 | 104,731,162 | 100,771,113 | b) Employees | 6,202,097 | 6,241,720 | 6,398,783 | 6,401,394 | |||||||||
c) Total insider loans, advances and other facilities | 6,228,588 | 6,266,643 | 6,454,487 | 6,477,899 | |||||||||||||||||
- | - | - | - | - | - | - | - | 3) OFF-BALANCE SHEET ITEMS | |||||||||||||
2,800,771 | 1,765,355 | - | 3,000,411 | 2,800,771 | 1,765,355 | - | 3,000,411 | a) Letters of credit, guarantees, acceptances | 71,241,595 | 77,172,761 | 71,140,599 | 72,498,945 | |||||||||
982,154 | 706,807 | 428,089 | 8,821,194 | 982,154 | 706,807 | 428,089 | 8,821,194 | b) Forwards, swaps and options | 16,727,967 | 24,313,973 | 25,759,087 | 36,270,154 | |||||||||
2,737,287 | 913,569 | 913,568 | 924,475 | 2,876,324 | 950,588 | 1,022,677 | 1,020,359 | c) Other contingent liabilities | - | - | - | - | |||||||||
145,444,151 | 137,112,959 | 139,412,560 | 128,520,854 | 145,444,151 | 137,112,959 | 139,412,560 | 128,520,854 | d) Total contingent liabilities | 87,969,562 | 101,486,734 | 96,899,686 | 108,769,099 | |||||||||
109,544,892 | 121,732,879 | 96,602,123 | 73,394,929 | 109,369,561 | 121,267,941 | 96,121,186 | 73,280,268 | 4) CAPITAL STRENGTH | |||||||||||||
- | - | - | - | - | - | - | - | a) Core capital | 48,287,536 | 45,588,839 | 42,132,719 | 41,787,207 | |||||||||
145,243 | 145,243 | 145,243 | 145,243 | - | - | - | - | b) Minimum statutory capital | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | |||||||||
- | - | - | - | - | - | - | - | c) Excess/(deficiency) | 47,287,536 | 44,588,839 | 41,132,719 | 40,787,207 | |||||||||
- | - | - | - | - | - | - | - | d) Supplementary capital | 1,110,896 | 4,496,688 | 5,271,363 | 6,239,961 | |||||||||
3,120,460 | 3,121,956 | 3,182,732 | 3,261,888 | 3,120,460 | 3,121,956 | 3,182,732 | 3,261,888 | e) Total capital (a+d) | 49,398,432 | 50,085,527 | 47,404,082 | 48,027,168 | |||||||||
- | - | - | - | - | - | - | - | f) Total risk weighted assets | 286,253,481 | 285,685,611 | 274,257,322 | 270,888,921 | |||||||||
4,743,991 | 4,563,640 | 4,103,224 | 4,171,755 | 4,743,991 | 4,563,640 | 4,103,224 | 4,171,755 | g) Core capital/total deposit liabilities | 17.02% | 15.05% | 15.11% | 14.56% | |||||||||
2,616,707 | 3,173,238 | 4,027,556 | 3,105,371 | 2,685,188 | 3,237,476 | 4,117,708 | 3,160,539 | h) Minimum statutory ratio | 8.00% | 8.00% | 8.00% | 8.00% | |||||||||
- | - | - | - | - | - | - | - | i) Excess/(deficiency) (g-h) | 9.02% | 7.05% | 7.11% | 6.56% | |||||||||
4,601,897 | 3,889,771 | 3,439,658 | 4,598,179 | 4,683,803 | 4,003,446 | 3,495,946 | 4,708,241 | j) Core capital/total risk weighted assets | 16.87% | 15.96% | 15.36% | 15.43% | |||||||||
361,708,379 | 389,031,323 | 381,630,646 | 364,290,414 | 361,677,229 | 388,636,074 | 381,260,015 | 364,291,624 | k) Minimum statutory ratio | 10.50% | 10.50% | 10.50% | 10.50% | |||||||||
5,989,102 | - | 6,992,340 | - | 5,989,102 | - | 6,992,340 | - | l) Excess/(deficiency) (j-k) | 6.37% | 5.46% | 4.86% | 4.93% | |||||||||
m) Total capital/total risk weighted assets | 17.26% | 17.53% | 17.28% | 17.73% | |||||||||||||||||
283,668,419 | 302,948,692 | 278,879,309 | 286,911,608 | 283,668,419 | 302,948,692 | 278,879,309 | 286,911,608 | n) Minimum statutory ratio | 14.50% | 14.50% | 14.50% | 14.50% | |||||||||
2,595,714 | 39,852 | 6,286,259 | 72,668 | 2,595,714 | 39,852 | 6,286,259 | 72,668 | o) Excess/(deficiency) (m-n) | 2.76% | 3.03% | 2.78% | 3.23% | |||||||||
687,255 | 363,887 | 201,865 | 193,655 | 687,255 | 363,887 | 201,865 | 193,655 | 5) LIQUIDITY | |||||||||||||
- | - | - | - | - | - | - | - | a) Liquidity ratio | 62.84% | 73.75% | 73.03% | 73.61% | |||||||||
- | - | - | - | - | - | - | - | b) Minimum statutory ratio | 20.00% | 20.00% | 20.00% | 20.00% | |||||||||
5,916,436 | 14,749,608 | 13,459,665 | 14,371,306 | 5,356,918 | 13,717,326 | 12,717,385 | 13,345,908 | c) Excess/(deficiency) (a-b) | 42.84% | 53.75% | 53.03% | 53.61% | |||||||||
3,398,067 | 2,654,111 | 815,754 | 3,407,533 | 2,655,065 | 818,412 | ||||||||||||||||
208,035 | 208,826 | 211,412 | 220,481 | 208,035 | 208,826 | 211,412 | 220,481 | ||||||||||||||
- | - | - | - | - | - | - | - | ||||||||||||||
43,404 | 99,566 | 96,428 | 36,331 | 43,404 | 99,566 | 96,428 | 36,331 | ||||||||||||||
5,981,081 | 7,454,353 | 17,068,249 | 6,235,543 | 5,995,455 | 7,468,703 | 17,083,222 | 6,262,982 | CONSOLIDATED SUMMARISED STATEMENT OF CHANGES IN EQUITY | |||||||||||||
305,089,446 | 329,262,851 | 325,849,638 | 308,857,346 | 304,544,302 | 328,254,385 | 325,123,285 | 307,862,045 | Share | Share | Other | Retained | Proposed | |||||||||
capital | premium | reserves | earnings | dividends | Total | ||||||||||||||||
2,169,253 | 2,169,253 | 2,169,253 | 2,169,253 | 2,169,253 | 2,169,253 | 2,169,253 | 2,169,253 | KShs.000 | KShs.000 KShs.000 KShs.000 KShs.000 KShs.000 | ||||||||||||
7,792,427 | 7,792,427 | 7,792,427 | 7,792,427 | 7,792,427 | 7,792,427 | 7,792,427 | 7,792,427 | At 1 January 2023 | 2,169,253 | 7,792,427 | 4,201,995 | 35,842,755 | 6,130,300 | 56,136,730 | |||||||
873,794 | 878,959 | 878,959 | 884,124 | 873,794 | 878,959 | 878,959 | 884,124 | Net profit for the period | - | - | - | 6,909,379 | - | 6,909,379 | |||||||
43,606,547 | 39,973,548 | 35,487,033 | 36,793,523 | 44,120,541 | 40,586,765 | 35,842,755 | 37,790,034 | Transfer to statutory credit reserve | - | - | (1,363,242) | 1,363,242 | - | - | |||||||
892,448 | 1,538,615 | 2,255,690 | 2,176,186 | 892,448 | 1,538,615 | 2,255,690 | 2,176,186 | Other comprehensive income | - | - | 202,979 | 5,165 | - | 208,144 | |||||||
(663,044) | (635,458) | (871,188) | (317,046) | (663,044) | (635,458) | (871,188) | (317,046) | Total comprehensive income for | - | - | (1,160,263) | 8,277,786 | - | 7,117,523 | |||||||
- | 6,130,300 | 6,130,300 | 4,016,039 | - | 6,130,300 | 6,130,300 | 4,016,039 | the period | |||||||||||||
Total contributions by and | |||||||||||||||||||||
1,947,508 | 1,920,828 | 1,938,534 | 1,918,562 | 1,947,508 | 1,920,828 | 1,938,534 | 1,918,562 | ||||||||||||||
distributions to owners | - | - | 8,974 | - | (6,130,300) | (6,121,326) | |||||||||||||||
56,618,933 | 59,768,472 | 55,781,008 | 55,433,068 | 57,132,927 | 60,381,689 | 56,136,730 | 56,429,579 | ||||||||||||||
At 30 June 2023 | 2,169,253 | 7,792,427 | 3,050,706 | 44,120,541 | - | 57,132,927 | |||||||||||||||
361,708,379 | 389,031,323 | 381,630,646 | 364,290,414 | 361,677,229 | 388,636,074 | 381,260,015 | 364,291,624 | ||||||||||||||
8,013,343 | 3,937,483 | 12,731,113 | 5,963,304 | 8,013,343 | 3,937,483 | 12,731,113 | 5,963,304 | CONSOLIDATED SUMMARISED STATEMENT OF CASH FLOWS | |||||||||||||
30.06.2023 | 31.12.2022 | 30.06.2022 | |||||||||||||||||||
4,817,164 | 2,534,871 | 10,298,361 | 4,808,830 | 4,817,164 | 2,534,871 | 10,298,361 | 4,808,830 | ||||||||||||||
FOR THE PERIOD ENDED | KShs.000 | KShs.000 | KShs.000 | ||||||||||||||||||
2,540,168 | 1,123,376 | 2,422,813 | 744,021 | 2,540,168 | 1,123,376 | 2,422,813 | 744,021 | ||||||||||||||
Un-audited | Audited | Un-audited | |||||||||||||||||||
- | - | 20,757 | 3,952 | - | - | 20,757 | 3,952 | Net cash (used in)/generated from operating activities | (6,242,700) | 21,587,675 | 28,062,129 | ||||||||||
15,370,675 | 7,595,730 | 25,473,044 | 11,520,107 | 15,370,675 | 7,595,730 | 25,473,044 | 11,520,107 | Net cash used in investing activities | (1,247,301) | (1,342,797) | (754,093) | ||||||||||
1,158,725 | 655,834 | 2,611,514 | 1,351,196 | 1,157,420 | 654,604 | 2,594,501 | 1,343,168 | Net cash used in financing activities | (6,307,786) | (7,982,040) | (1,561,243) | ||||||||||
(Decrease)/increase in cash & cash equivalents | (13,797,787) | 12,262,838 | 25,746,793 | ||||||||||||||||||
112,998 | 47,174 | 279,267 | 29,987 | 112,998 | 47,174 | 279,267 | 29,987 | Cash & cash equivalents at 1 January | 74,575,796 | 62,312,958 | 62,312,958 | ||||||||||
248,829 | - | 376,211 | 132,910 | 248,829 | - | 376,211 | 132,910 | Cash & cash equivalents | 60,778,009 | 74,575,796 | 88,059,751 | ||||||||||
1,520,552 | 703,008 | 3,266,992 | 1,514,093 | 1,519,247 | 701,778 | 3,249,979 | 1,506,065 | ||||||||||||||
13,850,123 | 6,892,722 | 22,206,052 | 10,006,014 | 13,851,428 | 6,893,952 | 22,223,065 | 10,014,042 | ||||||||||||||
131,826 | 78,239 | 221,886 | 131,378 | 131,826 | 78,239 | 221,886 | 131,378 | ||||||||||||||
1,842,710 | 821,656 | 2,641,955 | 1,491,605 | 2,700,154 | 1,320,484 | 4,251,977 | 2,403,715 | MESSAGE FROM THE DIRECTORS | |||||||||||||
4,455,712 | 2,189,804 | 5,973,243 | 2,268,093 | 4,455,712 | 2,189,804 | 5,973,243 | 2,268,093 | These financial statements are extracts from the books of the institution and can be accessed on the | |||||||||||||
264,102 | - | 1,160,323 | 210,023 | - | - | - | - | ||||||||||||||
institution's website www.sc.com/ke/investor-relations. They may also be accessed at the institution's head | |||||||||||||||||||||
(261,046) | 279,221 | 1,306,877 | 738,981 | (261,046 ) | 279,221 | 1,306,877 | 738,981 | office located at 48 Westlands Road. | |||||||||||||
6,433,304 | 3,368,920 | 11,304,284 | 4,840,080 | 7,026,646 | 3,867,748 | 11,753,983 | 5,542,167 | ||||||||||||||
20,283,427 | 10,261,642 | 33,510,336 | 14,846,094 | 20,878,074 | 10,761,700 | 33,977,048 | 15,556,209 |
OTHER OPERATING EXPENSES
Loan loss provision
Staff costs
Directors' emoluments Rental charges
Depreciation charge on property and equipment Amortisation charges
Other operating expenses
Total other operating expenses
Profit/(loss) before tax and exceptional items
Exceptional items
Profit/(loss) after exceptional items
Current tax
Deferred tax
Profit/(loss) after tax and exceptional items
OTHER COMPREHENSIVE INCOME
Gains/(losses) from translating the financial statements of foreign operations
Fair value changes in financial assets at FVOCI Revaluation surplus on property, plant and equipment Share of other comprehensive income of associates
Income tax relating to components of other comprehensive income
Other comprehensive income for the period net of tax Total comprehensive income for the period EARNINGS PER SHARE - BASIC & DILUTED (KShs) DIVIDEND PER SHARE - DECLARED (KShs)
2,035,587 | 790,917 | 1,328,458 | 108,187 | 2,035,587 | 790,917 | 1,328,458 | 108,187 |
4,004,824 | 1,871,691 | 6,689,167 | 3,528,817 | 4,057,043 | 1,902,709 | 6,788,892 | 3,584,634 |
131,563 | 65,274 | 251,595 | 124,161 | 132,003 | 65,274 | 252,155 | 124,161 |
131,899 | 104,494 | 257,877 | 89,280 | 131,899 | 104,494 | 257,877 | 89,280 |
194,111 | 97,181 | 435,961 | 243,780 | 194,111 | 97,181 | 435,961 | 243,780 |
492,096 | 245,904 | 820,529 | 401,975 | 492,096 | 245,904 | 820,529 | 401,975 |
3,980,344 | 1,816,576 | 6,588,335 | 3,250,377 | 4,191,270 | 1,916,489 | 6,989,977 | 3,434,861 |
10,970,424 | 4,992,037 | 16,371,922 | 7,746,577 | 11,234,009 | 5,122,968 | 16,873,849 | 7,986,878 |
9,313,003 | 5,269,605 | 17,138,414 | 7,099,517 | 9,644,065 | 5,638,732 | 17,103,199 | 7,569,331 |
- | - | - | - | - | - | - | - |
9,313,003 | 5,269,605 | 17,138,414 | 7,099,517 | 9,644,065 | 5,638,732 | 17,103,199 | 7,569,331 |
(1,240,251) | (746,874) | (5,695,664) | (2,277,753) | (1,391,371) | (832,592) | (6,067,273) | (2,473,397) |
(1,321,645) | (753,291) | 994,174 | 326,613 | (1,343,315) | (779,205) | 1,022,009 | 314,243 |
6,751,107 | 3,769,440 | 12,436,924 | 5,148,377 | 6,909,379 | 4,026,935 | 12,057,935 | 5,410,177 |
- | - | - | - | - | - | - | - |
297,348 | 123,962 | (2,054,052) | (956,695) | 297,348 | 123,962 | (2,054,052) | (956,695) |
- | - | - | - | - | - | - | - |
- | - | - | - | - | - | - | - |
(89,204) | (37,190) | 616,215 | 287,008 | (89,204) | (37,190) | 616,215 | 287,008 |
208,144 | 86,772 | (1,437,837) | (669,687) | 208,144 | 86,772 | (1,437,837) | (669,687) |
6,959,251 | 3,856,212 | 10,999,087 | 4,478,690 | 7,117,523 | 4,113,707 | 10,620,098 | 4,740,490 |
17.65 | 9.87 | 32.47 | 13.18 | 18.07 | 10.55 | 31.47 | 13.87 |
- | - | 22.00 | - | - | - | - | 22.00 |
Kellen Kariuki | Kariuki Ngari |
Chairperson | Managing Director & Chief Executive Officer |
23 August 2023
Standard Chartered Bank Kenya Limited is regulated by Central Bank of Kenya
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Standard Chartered Bank Kenya Ltd. published this content on 24 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 August 2023 07:24:01 UTC.