After losing the 16-year pension arrears case, Standard Chartered Bank Kenya has asserted it has adequate financial reserves to settle the KES 7 billion payout.
The Supreme Court threw out the commercial lender’s bid to stop the pension payout to 629 former employees. The apex court ruled that the appeal raised no constitutional issues, making it invalid. Previously, the Court of Appeal validated the Retirement Benefits Authority Tribunal’s verdict, insisting that trustees must manage pension funds according to the law and trust deeds.
According to a statement released on 8th September, the lender said that it has initiated a structured process to execute the judgment.
“We have initiated a structured process to execute the judgment in accordance with the legal requirements and are committed to maintaining open communication with affected pensioners,” said the bank.
StanChart’s Affirmation
StanChart went ahead and affirmed its robust capital reserves to meet the obligations. For the period ended June 30, 2025, StanChart’s core capital reserves stood at KES 56.1 billion, well above the KES 1 billion minimum statutory requirement by the Central Bank of Kenya (CBK).
“We would like to reassure our clients and stakeholders that we are adequately capitalized to meet the anticipated obligations,” said the bank.
Following the legal setback, StanChart’s share price at the Nairobi Securities Exchange (NSE) has recorded a dip, closing at KES 299 on 9th September from KES 334 on 4th September 2025.
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