Corporate NewsStanbic Holdings Appoints Ms Wambui Kihuha-Mbesa as Board Director

Stanbic Holdings Plc Board of Directors has appointed Ms Wambui Kihuha-Mbesa as an Independent Non-Executive Director on the Board, with effect from 8th September 2021.

Wambui Kihuha-Mbesa is a seasoned technology industry executive and entrepreneur with over 20 years of experience. Currently, she works as the Chief Executive Officer of INTRASOFT International East Africa.

She has previously been at the helm of several multinationals and possesses diverse board experience. Her expertise will bolster digital and entrepreneurship skills on the Stanbic Board, enhancing its diversity.

Ms Mbesa holds a Bachelor of Education Degree in Business Studies and Economics from Kenyatta University, a Postgraduate Diploma in Computer Science from Makerere University and a Master of Business Administration in Strategic Management from Maastricht Business School.

Ms Mbesa is also a member of Women in Technology Africa, the Institute of Directors (Kenya) and the Women on Boards Network.

Stanbic Holdings Half Year Results

Stanbic Holdings has recorded a 34.6 % rise in earnings through the first six months of the year, posting a profit of Kes.3.5 billion from Kes.2.6 billion recorded last year. The lender attributed the performance to improved operating income and lower costs.

Stanbic Holdings recorded a decline in deposits from other banks and customers to Kes 259.9 Billion in the period ended 31st June 2021 compared to Kes 287 Billion recorded during the same period last year.

Loans to customers fell to Kes 207.6 Million in the six months period compared to Kes 235.1 Billion recorded in 2020. Consequently, total assets in the group declined to Kes 329.5 Billion in the period ended 30th June 2021 compared to Kes 361.5 Billion reported last year, a 9% decline.

The Nairobi securities exchange-listed company recorded a 17% rise in profit before tax to Kes 4.8 Billion during the period ended 30th June 2021 compared to Kes 4.1 Billion recorded in 2020. The bank’s profitability as measured by its Earnings per Share(EPS) increased to Kes 8.86 in Q2, 2021 compared to Kes 6.46 in Q2, 2020.

Directors of Stanbic Holdings declared an interim dividend of Kes 1.70 per share to shareholders who will be on the register after book closure on September 6th, 2021. The lender will pay out dividends to shareholders on 27th September 2021.

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