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2 years ago
StanChart Kenya's Q1 pretax profit drops 29.8 pct
May 28, 2015 / 4:17 PM / 2 years ago

StanChart Kenya's Q1 pretax profit drops 29.8 pct

NAIROBI, May 28 (Reuters) - Standard Chartered Bank of Kenya's pretax profit plunged 29.8 percent to 2.516 billion shillings ($25.74 million), hurt by a decline in revenue, it said on Thursday.

The lender, which is a unit of Standard Chartered Plc , said its total operating income fell 5.4 percent during the period while expenses went up 6.4 percent.

Loan impairment charges also went up by 249 percent during the period, the bank added.

$1 = 97.7500 Kenyan shillings Reporting by Duncan Miriri, editing by David Evans

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