Standard Charter Becomes Kenya’s Third Most Profitable Bank

Standard Chartered (StanChart) has displaced another UK bank, Barclays to become Kenya’s third most profitable bank, overtaking Barclays in profit earned for the first time in three years. Since 2010, the LSE-listed bank has trailed Kenya’s top three high flyers, KCB, Equity and Barclays, coming fourth in earnings during this period. However, its 2013 financial results showed profit after tax (PAT) of Sh9.2 billion ($106 million), 14 percent higher than Barclays’ Sh7.9 billion

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