SCBK | Standard Chartered Bank Kenya FY22 Earnings Note

Standard Chartered Bank Kenya FY’22 earnings results were higher than our expectations. The lender posted a 33.41% y/y climb in PAT and a 33.97% growth in EPS to KES 12.06Bn and KES 31.47/share, respectively, driven by a 18.13% y/y growth in net interest income and a 13.53% y/y growth in non-interest income. Trailing ROaE & ROaA improved to 22.05% & 3.37% respectively in FY’22 as NIMs remained adequate at 6.96%. The board of directors recommended a final dividend of KES 16.00 taking the total dividend paid out in FY’22 to KES 22.00 representing a 15.79% increase from KES 19.00 paid out in FY’21.