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StanChart Kenya's pretax profit falls 38 pct in first nine months
November 14, 2017 / 2:16 PM / a month ago

StanChart Kenya's pretax profit falls 38 pct in first nine months

NAIROBI, Nov 14 (Reuters) - Standard Chartered Kenya’s pretax profit dropped 38 percent to 6.87 billion shillings ($66.31 million) in the first nine months of this year, it said on Tuesday.

The lender blamed the drop on a government cap on commercial lending rates introduced in September last year, and an economic slowdown after the Supreme Court nullified an Aug. 8 presidential election and ordered a re-run, for the drop in earnings. ($1 = 103.6000 Kenyan shillings) (Reporting by Duncan Miriri, editing by Louise Heavens)

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