SCBK | Standard Chartered Bank Kenya FY23 Earnings Note

    Standard Chartered Bank Kenya surpassed in-house expectations to post a remarkable 14.7% y/y growth in net earnings to KES 13.84Bn throughout 2023. Revenue growth was driven by a balanced demand growth in both affluent banking and mass retail propositions.

    The Board of Directors recommend a final Dividend of KES 23.00 per share. In addition to the earlier issued interim dividend of KES 6.00, it raises the total FY’23 dividend to KES 29.00.

    Recommendation - We maintain our BUY recommendation on Standard Chartered Bank Kenya on account of an accelerating return on equity momentum amid ongoing strategic initiatives. 

     

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    AIB-AXYS Africa Ltd is the fusion of two established companies; AIB Capital Limited and Apex Africa Capital Limited, both with over 25 years of experience in the Securities market. With the solid reputation and experience of the professional teams, we leverage talent and networks to better service businesses and investors looking to capitalize on the African growth story, and its vibrant financial sector.
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