Standard Chartered Kenya Sustainable Finance Revenue Hits Sh 3bn in FY24

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Standard Chartered Kenya sustainable finance revenue grew to Sh 3 billion in FY24, up from Sh 1.27 billion the previous year, a major milestone in its shift toward environmentally responsible banking.

The strong performance comes amid wider sustainability efforts by the lender. Over the past year, Standard Chartered Kenya slashed its carbon emissions by 79%, while cutting energy usage by 54% compared to 2017 levels.

Waste management has also taken center stage, with 97% of waste recycled across its Head Office, Treasury Square, and Kenyatta Branch.

The bank has now achieved True Zero Waste Certification, along with EDGE4 green building certification.

A new solar carport with a 177Kwh capacity is among the bank’s recent green investments. Meanwhile, 616,000 trees were planted in 2024, helping the bank meet its three-year target of one million trees ahead of schedule.

On the social impact front, the bank continues to push forward through its Futuremakers program, which reached 10,452 beneficiaries last year. The 21st edition of the Standard Chartered Nairobi Marathon raised Sh 48 million in support of the initiative, up from Sh 44 million in 2023.

Employee volunteering also hit a high note, with 82% participation recorded across the organization.

Read: NCBA Launches Sustainable Development Impact Disclosure (SDID) Document – Here’s What It Means

Financially, Standard Chartered Kenya proposed a final dividend of Sh 37.00 per share for FY24, bringing the total payout for the year to Sh 45.00, when combined with the Sh 8.00 interim dividend paid in October 2024. This represents a 55% jump compared to FY23.

The Standard Chartered Kenya final dividend FY24 will see shareholders pocket a total Sh 17 billion, up from Sh 10.9 billion last year. The dividend payout ratio now stands at 86%, supported by a capital adequacy ratio of 19.55% and a liquidity ratio of 67.6%.

The bank’s operating income climbed 21% to Sh 50.7 billion, while profit before tax rose 43% to Sh 28.2 billion. Earnings per share (EPS) jumped 46% to Sh 52.6, from Sh 36.2 in FY23.

Operating expenses rose by 8% to Sh 20.1 billion, while the cost-to-income ratio dropped to 39.6%, down from 44.8% a year earlier. Additionally, over the past five years, the bank has poured Sh 14.1 billion into digital transformation, pushing its investment-to-expense ratio from 12% to 18%.

The non-performing loan (NPL) ratio fell to 7.4%, while non-performing assets declined by 29% to Sh 12 billion. Loan impairment losses dropped 30%, and the cover ratio improved to 79.3%, well above industry averages.