NAIROBI (Reuters) – Kenya’s Standard Chartered Bank on Wednesday reported a 38% increase in its pretax profit for the first nine months of this year to 12.29 billion shillings ($100.66 million), thanks to a drop in its provisions for bad debts.
The lender, which is controlled by Standard Chartered Plc, said in a statement its net interest income rose to 15.78 billion shillings from 14.7 billion shillings, while provisions for loan impairments fell to 621 million shillings from 2.68 billion shillings in the same period a year ago.
($1 = 122.1000 Kenyan shillings)
(Reporting by George Obulutsa; Editing by Duncan Miriri)
