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 three month period ended 31 March 2023

STATEMENT OF FINANCIAL POSITION

BANK

GROUP

OTHER DISCLOSURES

BANK

31.03.2023

31.12.2022

31.03.2022

31.03.2023

31.12.2022

31.03.2022

31.03.2023

31.12.2022

31.03.2022

KShs.000

KShs.000

KShs.000

KShs.000

KShs.000

KShs.000

KShs.000

KShs.000

KShs.000

Un-audited

Audited

Un-audited

Un-audited

Audited

Un-audited

Un-audited

Audited

Un-audited

ASSETS

1) NON-PERFORMING LOANS AND ADVANCES

Cash (both local and foreign)

3,489,983

3,457,845

3,212,990

3,489,983

3,457,845

3,212,990

a) Gross non-performing loans and advances

22,597,977

22,577,388

22,568,597

Balances due from Central Bank of Kenya

12,515,308

19,799,461

13,720,693

12,515,308

19,799,461

13,720,693

b) Less: Interest in suspense

9,301,240

9,539,146

8,887,583

Kenya Government and other securities held for dealing purposes

2,171,589

965,720

12,217,565

2,171,589

965,720

12,217,565

c) Net non-performing loans and advances (a-b)

13,296,737

13,038,242

13,681,014

Financial assets at fair value through profit and loss

828,358

421,705

378,937

828,358

421,705

378,937

d) Less: loan loss provisions

10,309,882

10,131,278

9,579,475

Investment securities:

e) Net non-performing loans (c-d)

2,986,855

2,906,964

4,101,539

a) Amortised cost:

f) Realizable value of securities

2,186,417

2,268,159

3,358,330

i. Kenya Government securities

-

-

-

-

-

-

g) Net NPLs exposure (e-f)

800,438

638,805

743,209

ii. Other securities

-

-

-

-

-

-

2) INSIDER LOANS AND ADVANCES

b) Fair value through other comprehensive income (FVOCI)

a) Directors, shareholders and associates

24,923

55,704

76,114

i. Kenya Government securities

92,900,668

104,731,162

89,148,941

92,900,668

104,731,162

89,148,941

b) Employees

6,241,720

6,398,783

6,357,136

ii. Other securities

-

-

-

-

-

-

c) Total insider loans, advances and other facilities

6,266,643

6,454,487

6,433,250

Deposits and balances due from local banking institutions

1,765,355

-

9,665

1,765,355

-

9,665

3) OFF-BALANCE SHEET ITEMS

Deposits and balances due from banking institutions abroad

706,807

428,089

165,128

706,807

428,089

165,128

a) Letters of credit, guarantees and acceptances

77,172,761

71,140,599

69,949,446

Tax recoverable

913,569

913,568

913,568

950,588

1,022,677

1,002,662

b) Forwards, swaps and options

24,313,973

25,759,087

49,837,482

Loans and advances to customers (net)

137,112,959

139,412,560

128,092,637

137,112,959

139,412,560

128,092,637

c) Other contingent liabilities

-

-

-

Balances due from banking institutions in the group

121,732,879

96,602,123

77,373,009

121,267,941

96,121,186

77,167,727

d) Total contingent liabilities

101,486,734

96,899,686

119,786,928

Investments in associates

-

-

-

-

-

-

4) CAPITAL STRENGTH

Investments in subsidiary companies

145,243

145,243

145,243

-

-

-

a) Core capital

45,588,839

42,132,719

41,394,183

Investments in joint ventures

-

-

-

-

-

-

b) Minimum statutory capital

1,000,000

1,000,000

1,000,000

Investment properties

-

-

-

-

-

-

c) Excess/(deficiency)

44,588,839

41,132,719

40,394,183

Property and equipment

3,121,956

3,182,732

3,331,855

3,121,956

3,182,732

3,331,855

d) Supplementary capital

4,496,688

5,271,363

6,128,074

Prepaid lease rentals

-

-

-

-

-

-

e) Total capital (a+d)

50,085,527

47,404,082

47,522,257

Intangible assets

4,563,640

4,103,224

4,240,205

4,563,640

4,103,224

4,240,205

f) Total risk weighted assets

285,685,611

274,257,322

269,631,254

Deferred tax asset

3,173,238

4,027,556

2,543,989

3,237,476

4,117,708

2,619,413

g) Core capital/total deposit liabilities

15.05%

15.11%

15.60%

Retirement benefit asset

-

-

-

-

-

-

h) Minimum statutory ratio

8.00%

8.00%

8.00%

Other assets

3,889,771

3,439,658

5,500,800

4,003,446

3,495,946

5,604,441

i) Excess/ (deficiency) (g-h)

7.05%

7.11%

7.60%

TOTAL ASSETS

389,031,323

381,630,646

340,995,225

388,636,074

381,260,015

340,912,859

j) Core capital/total risk weighted assets

15.96%

15.36%

15.35%

LIABILITIES

k) Minimum statutory ratio

10.50%

10.50%

10.50%

Balances due to Central Bank of Kenya

-

6,992,340

-

-

6,992,340

-

l) Excess/(deficiency) (j-k)

5.46%

4.86%

4.85%

Customer deposits

302,948,692

278,879,309

265,381,349

302,948,692

278,879,309

265,381,349

m) Total capital/total risk weighted assets

17.53%

17.28%

17.62%

Deposits and balances due to local banking institutions

39,852

6,286,259

82,014

39,852

6,286,259

82,014

n) Minimum statutory ratio

14.50%

14.50%

14.50%

Deposits and balances due to foreign banking institutions

363,887

201,865

218,930

363,887

201,865

218,930

o) Excess/(deficiency) (m-n)

3.03%

2.78%

3.12%

Other money market deposits

-

-

-

-

-

-

p) Adjusted core capital/total deposit liabilities*

15.08%

15.14%

15.64%

Borrowed funds

-

-

-

-

-

-

q) Adjusted core capital/total risk weighted assets*

15.99%

15.40%

15.39%

Balances due to banking institutions in the group

14,749,608

13,459,665

11,696,387

13,717,326

12,717,385

10,378,899

r) Adjusted total capital/total risk weighted assets*

17.57%

17.32%

17.66%

Tax payable

3,398,067

2,654,111

1,301,545

3,407,533

2,655,065

1,506,083

5) LIQUIDITY

Dividends payable

208,826

211,412

221,757

208,826

211,412

221,757

a) Liquidity ratio

73.75%

73.03%

71.56%

Deferred tax liability

-

-

-

-

-

-

b) Minimum statutory ratio

20.00%

20.00%

20.00%

Retirement benefit liability

99,566

96,428

34,304

99,566

96,428

34,304

c) Excess/(deficiency) (a-b)

53.75%

53.03%

51.56%

Other liabilities

7,454,353

17,068,249

7,433,437

7,468,703

17,083,222

7,466,388

TOTAL LIABILITIES

329,262,851

325,849,638

286,369,723

328,254,385

325,123,285

285,289,724

*The adjusted capital ratios include the expected credit loss provisions added back to capital in line with the Central

SHAREHOLDERS' FUNDS

Bank of Kenya guidance note issued in April 2018 on implementation of IFRS 9.

Paid up/assigned capital

2,169,253

2,169,253

2,169,253

2,169,253

2,169,253

2,169,253

Share premium/ (discount)

7,792,427

7,792,427

7,792,427

7,792,427

7,792,427

7,792,427

MESSAGE FROM THE DIRECTORS

Revaluation reserves

878,959

878,959

886,707

878,959

878,959

886,707

These financial statements are extracts from the books of the institution and can be accessed on the institution's

Retained earnings/ (accumulated losses)

39,973,548

35,487,033

34,515,835

40,586,765

35,842,755

35,513,468

Statutory loan loss reserves

1,538,615

2,255,690

1,804,730

1,538,615

2,255,690

1,804,730

website www.sc.com/ke/investor-relations. They may also be accessed at the institution's head office located at

48 Westlands Road.

Other reserves (fair value)

(635,458)

(871,188)

183,655

(635,458)

(871,188)

183,655

Proposed dividends

6,130,300

6,130,300

5,374,599

6,130,300

6,130,300

5,374,599

Capital grants

1,920,828

1,938,534

1,898,296

1,920,828

1,938,534

1,898,296

TOTAL SHAREHOLDERS' EQUITY

59,768,472

55,781,008

54,625,502

60,381,689

56,136,730

55,623,135

Kellen Kariuki

Kariuki Ngari

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

389,031,323

381,630,646

340,995,225

388,636,074

381,260,015

340,912,859

Chairperson

Managing Director & Chief Executive Officer

STATEMENT OF COMPREHENSIVE INCOME

17 May 2023

INTEREST INCOME

Standard Chartered Bank Kenya Limited is regulated by Central Bank of Kenya

Loans and advances

3,937,483

12,731,113

3,042,043

3,937,483

12,731,113

3,042,043

Government securities

2,534,871

10,298,361

2,323,548

2,534,871

10,298,361

2,323,548

Deposits and placements with banking institutions

1,123,376

2,422,813

296,012

1,123,376

2,422,813

296,012

Other interest income

-

20,757

2,762

-

20,757

2,762

Total interest income

7,595,730

25,473,044

5,664,365

7,595,730

25,473,044

5,664,365

INTEREST EXPENSES

Customer deposits

655,834

2,611,514

665,672

654,604

2,594,501

662,084

Deposits and placements from banking institutions

47,174

279,267

16,105

47,174

279,267

16,105

Other interest expenses

-

376,211

63,720

-

376,211

63,720

Total interest expenses

703,008

3,266,992

745,497

701,778

3,249,979

741,909

NET INTEREST INCOME/(LOSS)

6,892,722

22,206,052

4,918,868

6,893,952

22,223,065

4,922,456

NON-INTEREST INCOME

Fees and commissions on loans and advances

78,239

221,886

49,419

78,239

221,886

49,419

Other fees and commissions

821,656

2,641,955

697,867

1,320,484

4,251,977

1,184,607

Foreign Exchange trading income/ (loss)

2,189,804

5,973,243

1,023,674

2,189,804

5,973,243

1,023,674

Dividend income

-

1,160,323

-

-

-

-

Other income

279,221

1,306,877

228,997

279,221

1,306,877

228,997

Total non-interest income

3,368,920

11,304,284

1,999,957

3,867,748

11,753,983

2,486,697

TOTAL OPERATING INCOME

10,261,642

33,510,336

6,918,825

10,761,700

33,977,048

7,409,153

OTHER OPERATING EXPENSES

Loan loss provision

790,917

1,328,458

(86,005)

790,917

1,328,458

(86,005)

Staff costs

1,871,691

6,689,167

1,643,556

1,902,709

6,788,892

1,670,213

Directors' emoluments

65,274

251,595

59,089

65,274

252,155

59,089

Rental charges

104,494

257,877

36,950

104,494

257,877

36,950

Depreciation charge on property and equipment

97,181

435,961

130,385

97,181

435,961

130,385

ªWill your investments support

Other operating expenses

1,816,576

6,588,335

1,382,061

1,916,489

6,989,977

1,469,260

Amortisation charges

245,904

820,529

201,279

245,904

820,529

201,279

your children's studies

Profit/ (loss) before tax and exceptional items

5,269,605

17,138,414

3,551,510

5,638,732

17,103,199

3,927,982

Total other operating expenses

4,992,037

16,371,922

3,367,315

5,122,968

16,873,849

3,481,171

Exceptional items

-

-

-

-

-

-

anywhere in the world?º

Profit/ (loss) after exceptional items

5,269,605

17,138,414

3,551,510

5,638,732

17,103,199

3,927,982

Current tax

(746,874)

(5,695,664)

(1,029,515)

(832,592)

(6,067,273)

(1,150,957)

Deferred tax

(753,291)

994,174

(20,182)

(779,205)

1,022,009

(12,297)

Create, grow and protect your wealth

Other comprehensive income

3,769,440

12,436,924

2,501,813

4,026,935

12,057,935

2,764,728

Profit/ (loss) after tax and exceptional items

operations

-

-

-

-

-

-

with Priority Banking.

Gains/(losses) from translating the financial statements of foreign

Fair value changes in financial assets at FVOCI

123,962

(2,054,052)

(489,905)

123,962

(2,054,052)

(489,905)

Revaluation surplus on property, plant and equipment for all periods

-

-

-

-

-

-

Share of other comprehensive income of associates

-

-

-

-

-

-

Income tax relating to components of other comprehensive income

(37,190)

616,215

146,971

(37,190)

616,215

146,971

Other comprehensive income for the period net of tax

86,772

(1,437,837)

(342,934)

86,772

(1,437,837)

(342,934)

Total comprehensive income for the period

3,856,212

10,999,087

2,158,879

4,113,707

10,620,098

2,421,794

EARNINGS PER SHARE - BASIC & DILUTED (KShs)

9.87

32.47

6.18

10.55

31.47

6.87

T&Cs apply

DIVIDEND PER SHARE - DECLARED (KShs)

-

22.00

-

-

22.00

-

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Disclaimer

Standard Chartered Bank Kenya Ltd. published this content on 17 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2023 09:50:05 UTC.