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Sierra Leone Business: Standard Chartered posts Le17.1b Profit Before Tax

One of the oldest commercial banks still operating in the country – Standard Chartered Bank has posted an impressive Profit Before Tax of Le 17.1 billion for 2016.
However the Bank made only a small improvement of 0.2% from its 2015 operations clocking an increase of Le44.4 million from Le17 billion in 2015 to Le17.1 billion in 2016.
The deposits from customers grew by 49% or Le258.4 billion from Le527 billion in 2015 to Le785.5 billion in 2016.
The Loans and advances which is the core business of commercial banks grew by a massive 89% or Le35.9 billion from Le40 billion in 2015 to Le76 billion in 2016.
The fees and commissions gained from its commercial activity grew by only 8% or Le1.1 billion from Le13.8 billion in 2015 to Le14.9 billion in 2016.
The Banks investment in securities grew by 3% or Le4.7 billion from Le138 billion in 2015 to Le142.7 billion in 2016.
Monday August 07, 2017.

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