People Daily | by Noel Wandera
Standard Chartered Bank has announced a 34 per cent drop in its profitability for the financial year ended December 2020 by posting Sh5.4 billion against Sh8.2 billion recorded during the same period in 2019.
Chief Executive Officer Kariuki Gari said though the bank remained strong and profitable, earnings were impacted by higher provisions and reduced economic activity as a result of the Covid-19 pandemic.
During the period under review, profit before tax also reduced by 39 per cent to Sh7.4 billion from Sh12.2 billion…
