Tuesday, March 25, 2014

Standard Chartered Bank sees Kenya's growing middle-class boosting 2014 growth

Standard Chartered Bank of Kenya expects east Africa's burgeoning middle class to drive growth in 2014 after it recorded a 16 percent rise in 2013 pretax profit, its chief executive said. The lender, which is controlled by Standard Chartered Plc, said its net interest income jumped by 18 percent to 16.8 billion shillings, driving pretax profits to 13.4 billion shillings.

Lamin Manjang, who took over the leadership of the bank this year after running its business in Oman, attributed the

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