NAIROBI: Standard Chartered Kenya posted a 36% jump in its pretax profit for 2022 to 17.1 billion shillings ($132.15 million), its chief financial officer said on Tuesday.

The increase was due to reopening of businesses after the COVID-19 pandemic, which fueled demand for loans, and an increase in lending rates, CFO Chemutai Murgor told an investor briefing.

Net interest income grew by 18% during the period, Murgor said, while income from transactions increased by 13%.

StanChart, which is controlled by Standard Chartered PLC, is one of the oldest lenders in Kenya.

5th StanChart Karachi United league sponsors over 1200 footballers

It has been focusing aggressively on the wealth management business segment for affluent customers in recent years.