Standard Chartered Bank Kenya : Stanchart Kenya's pretax profit rises 3% in 2019, dividend jumps

Standard Chartered Bank of Kenya said on Thursday its pretax profit rose 3% to 12.2 billion shillings ($117 million) in 2019, as a focus on keeping a lid on bad loans restrained revenue growth.

The lender, which is the fourth largest by assets in the East African nation, said its earnings per share edged up 2% to 23.49 shillings.

The bank boosted its total dividend per share for the year to 20 shillings, 5% higher than the previous year.

The government removed a cap on commercial lending rates last November and executives in the industry expect the move to boost loan growth this year.

($1 = 104.1500 Kenyan shillings)

(Reporting by Duncan Miriri; Editing by Tom Hogue and Shailesh Kuber)