Standard Chartered Bank, Kenya has reported a pretax profit of KES  6.5 billion for the first-half of 2012. This is and 87% increment on the profit the bank made in the same period in 2011. The bank made a pretax profit of KES 3.5 billion for the first half of 2011.

Standard Chartered, the oldest foreign bank in the country with a market share of about 27%, 's net interest income rose to KES 7.32 billion shillings from KES 4.52 billion shillings previously. This sent its pretax earnings higher by 87% with the company paying KES 1.81 billion in interest on customer deposits up from KES 347.91 million the same period last year.

In a statement Stanchart Kenya CEO Richard Etemesi said the bank  has seen substantial income growth momentum across its core business fronts during the first half of the year with consumer banking revenue growing by 45% while wholesale banking revenue grew by 55%.

Etemesi said consumer banking income momentum has continued while wholesale banking has also had a strong first half with a record performance in client income. He attributed the higher performance to sticking to a clear and consistent strategy, investing for growth, as well as disciplined management of capital, liquidity, costs and risks.

Standard chartered now is ranked the third most profitable bank in Kenya after KCB and Equity.  Barclays Bank of Kenya reported KES 4.2 billion earnings for the same period, putting it at fourth place.