Standard Chartered Bank Kenya boosted its earnings in the first quarter of 2022 by booking a negative provision for loan losses with hopes of an economic turnaround from the adverse effects of the Covid-19 pandemic.
The lender, which is listed on the Nairobi Securities Exchange (NSE), booked a negative loan loss provision of Ksh86 million ($741,379.31) leading to a 15.48 percent growth in net profit to Ksh2.76 billion ($23.79 million) from Ksh2.39 billion ($20.6 million) in 2020.
