Stanchart in $1.5bn income, $900m profit
Published On February 29, 2024 » 564 Views» By Times Reporter » Business, Stories
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By ANDREW MULENGA –
STANDARD Chartered Bank Zambia last year posted $1.5 billion in income representing a 27-per cent growth increase in year on year with a profit before tax of $918 million or 145 per cent rise.
Stanchart Zambia chief executive officer Sonny Zulu also said that the returns for tangible equity in 2023 was 14.3 per cent which was a turnaround from the previously recorded -0.2 per cent in 2022.
Mr Zulu said in a presentation to the media yesterday that this was the first time the bank had managed to achieve the kind of income growth and profit before tax in a decade.
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