CFC Stanbic Holdings Limited has released its full-year financial results for the year ended 31^st December 2011. The listed bank has reported a profit before tax of KES 2.799 billion in 2011, up 39.529% from the KES 2.006 billion profit before tax in 2010. The company’s operating expenses increased 17% to KES 7.39 billion from KES 6.314 billion in 2010. Total deposits increased by 26% from KES 85.695 in 2010 to KES 107.681 in 2011 while total loans increased by a similar 26% margin from KES 75.225 in 2010 to KES 94.885 in 2011, a KES 20 billion increase. The bank’s net profit stood at KES 1.838 billion, a 3% increase from the KES 1.787 billion net profit in 2010.

In a commentary on the annual results for the year, the company Chairman Mr. Fred Ojiambo recognised the difficulty the company faced in 2011 with the macroeconomic instability that characterised most of the year highlighted by the spiralling inflation and exchange rate depreciation. He is however optimistic that 2012 will be a good year for the company with expansion into South Sudan expected in the year.

The company will have its 57^th Annual General Meeting of the members of the company on Friday 25^th May  2012 at CFC Stanbic Centre in Nairobi from 11:00am.