By BUUMBA CHIMBULUSTANDARD Chartered Bank Zambia Plc has reclaimed its traditional place in the top four tier earners on the commercial banking score board as its total income grew 71.0 percent to slightly over K1.1 billion.This was supported by market gains on duration risk in government securities on the interest rate trading portfolio while credit impairment write backs in excess of K111 million further propelled contribution.According to third quarter financial statements released, non-interest income drivers included decent foreign exchange flows which in addition to a 30.2 percent ebb in year on year non-interest expenses scaled the banks margins higher.This reflected a stronger positive jaws position with sharp decline in cost to income ratio to 50.2 percent from 90.8 percent a year ago.Meanwhile, the bank grew its after tax earnings to K405.98 million from a loss of K155.2 million a year ago.The London incorporated franchise last year revolved between business reorgani-sation tangles, as part of a […]
STANCHART’S TOTAL INCOME HITS K1BN
