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SCB ANNUAL REPORT Final 2011

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SCB ANNUAL REPORT Final 2011 Annual Report 2019 Here for good Driving commerce and prosperity through our unique diversity InvestmentsInvestments boughtbought onon youryour phone?phone? That’sThat’s anan eye-opener.eye-opener. You can now buy and view mutual funds and other wealth product details, all on your phone. Is it time to start investing for the long term? Making the first step couldn’t be easier. You can now research and invest in Standard Chartered mutual funds and other wealth products, right from your phone. Just click 'Mutual Funds' and you’re on your way. All on the app • View our full range of funds and top picks • Invest directly in a mutual fund with the lump sum, Regular Savings Plan or Wealth Builder options • View performance details: value, trend graph, price history, dividend yield • Partially / fully sell funds • View holdings and historical transactions over one year • View the fund’s fact sheet and prospectus Save for the long term, right now. Click ‘Mutual Funds’ on your SC Mobile app. sc.com/ke Terms and Conditions apply. Standard Chartered Bank Kenya Limited is regulated by the Central Bank of Kenya. BUSINESS REVIEW Contents Contents Page REVIEW BUSINESS Business Review Who we are 2 Our purpose and progress 3 Five year summary 5 Our business 6 Business model 7 Our strategy 9 Client segment reviews 11 Product groups 17 Risk management 20 Stakeholders and Responsibilities 25 Chairman’s Statement 34 Chief Executive Officer’s statement 38 Corporate Governance Directors, Officials and Administration 44 Report of the Directors 52 Statement on Corporate Governance 54 Directors’ Remuneration Report 63 Statement of Directors’ Responsibilities 68 Financial Statements Independepent Auditor’s Report 69 Income statement 75 Statement of other comprehensive income 76 Statement of financial position 77 Consolidated statement of changes in equity 78 Company statement of changes in equity 80 Statement of cash flows 82 Notes to the financial statements 83 BUSINESS REVIEW Who we are Who we are Standard Chartered is a leading international banking group and the largest international bank in Kenya. Established in 1911, Standard Chartered, Kenya is one of the oldest banks servicing this market. Our heritage and values are expressed in our brand promise, Here for good. Our operations reflect our purpose, which is to drive commerce and prosperity through our unique diversity. We offer banking services that help people and companies to succeed, creating wealth and growth across our market. We are committed to promoting economic and social development in Kenya by focusing on three sustainability pillars – Sustainable Finance, Responsible Company and Inclusive Communities. Our valued behaviours Our valued behaviours demand that we do things differently for us to succeed. Only then will we realise our potential and truly be Here for good. • Continuously improve and innovate Never settle • Simplify • Learn from your successes and failures • See more in others Better together • “How can I help?” • Build for the long term • Live with integrity Do the right thing • Think client • Be brave, be the change About this report Our Annual Report and Financial Statements for the year ended 31 December 2019 provides insights into our progress in realising our purpose – to drive commerce and prosperity through our unique diversity. It provides details on our business, our strategy, our risk management, our governance and our financial performance. Sustainability reporting is embedded across our annual report. This report is prepared in accordance with the requirements of the Kenyan Companies Act, 2015, guidelines issued by the Capital Markets Authority and the Central Bank of Kenya’s Prudential Guidelines. BUSINESS REVIEW BUSINESS KShs 27,950m KShs 12,174m KShs 23.49 (2018: KShs 27,775m) (2018: KShs 11,847m) (2018: KShs 23.09) BUSINESS REVIEW Five yearYear summarySummary Investing in Kenya government bonds & t-bills is now easy. Buy and sellseell governmentt bonds & t-billss conveniently through ththehe SC Mobile apapp.pp. All on the appp • Buy or sell KenyaK government bondsboonds & t-bills withoutwithouut the hassle of a branch visit and form fillingg • View securitisecuritiesies available to be trtradedraded through the apapppp for that trading dadayay • See order hishistorystory for previously ssubmitted bonds anandnd bills • Learn more aabout bonds and bilbillsls trading via the ededucationalucational page We’re commitcommittedtted to growing andd protecting your wwealth. Click ‘T-Bills‘T Bills & Bonds Trading’ ono your SC Mobile app.aapp sc.com/kesc.com/ke Investment Products area distributed by Standard CharteredChaartered Investment Services Limited,Limmited, a wholly owned subsidiarysubsidiaary of the Bank that is licensed by the Capital Markets Authority as a fund manager. Standard CharCharteredrtered Bank Kenya Limited is reregulatedegulated by the Central Bank of KenyaKenya.a. Five Year Summary REVIEW BUSINESS Group KShs Million Income Statement 2019 2018 2017 2016 2015 Operating income 27,950 27,775 26,626 27,395 24,814 Operating expenses (15,542) (14,579) (12,785) (12,229) (11,063) Impairment losses on financial instruments (234) (1,349) (3,770) (1,878) (4,591) Profit before taxation 12,174 11,847 10,071 13,288 9,160 Taxation (3,937) (3,748) (3,157) (4,239) (2,818) Profit after taxation 8,237 8,099 6,914 9,049 6,342 Information per ordinary share Basic earnings per share (KShs) (2015 restated) 23.49 23.09 19.64 25.85 17.97 Dividend per share (KShs) 20.00 19.00 17.00 20.00 17.00 Statement of Financial Position Loans and advances to customers (gross) 136,534 127,860 134,328 128,290 120,394 Impairment losses on financial instruments (7,844) (9,208) (8,034) (5,579) (5,268) Government securities 99,611 98,705 110,542 86,489 73,126 Other assets 73,837 68,047 48,888 41,282 45,714 Total assets 302,138 285,404 285,724 250,482 233,966 Deposits from customers 228,434 224,284 213,349 186,598 172,036 Other liabilities 25,943 14,480 26,710 19,280 20,678 Total liabilities 254,377 238,764 240,059 205,878 192,714 Net assets 47,761 46,640 45,665 44,604 41,252 Shareholders’ funds 47,761 46,640 45,665 44,604 41,252 Ratios Cost income ratio 56% 52% 48% 45% 45% Return on capital employed 19% 19% 16% 23% 17% Impairment charge/gross loans and advances – 1% 3% 1% 4% Gross loans and advances to deposits ratio 60% 57% 63% 69% 70% Gross non-performing loans and advances/total gross loans and advances 9% 11% 6% 8% 10% Core capital/total deposit liabilities 16% 16% 17% 19% 19% Core capital/total risk weighted assets 15% 17% 16% 18% 18% Total capital/total risk weighted assets 18% 20% 19% 21% 21% BUSINESS REVIEW Our Business OUR BUSINESS What We Do At Standard Chartered our purpose is to drive commerce and prosperity through our unique diversity. We offer banking services that help people and companies to succeed, creating wealth and growth across our market. Serving client segments with differentiated expertise: Our business serves three client segments and is supported by six functions. Functions Our client-facing businesses are supported by our functions, which work together to ensure the Group’s operations run smoothly and consistently within our legal and regulatory obligations, our purpose and risk appetite. Human Resources Legal Technology & Innovation Enables business performance Enables sustainable Responsible for the Group’s through recruiting, developing business and protects the operations, systems and engaging colleagues. Group from legal-related development and technology risk. infrastructure. Risk CFO Corporate Affairs & Brand and Marketing Responsible for the sustainability Incorporates the following Manages the Group’s of our business through good support functions: communications and management of risk across the − Finance; engagement with stakeholders Group and ensuring that business − Supply Chain; and in order to protect and promote is conducted in line with − Property. the Group’s reputation, brand regulatory expectations. and services. Operations Internal Audit Conduct, Financial Crime and Compliance Responsible for all client operations, An independent function whose Enables sustainable business by delivering end-to-end, and ensures the needs primary role is to help the Board the right outcomes for our clients by driving of our clients are at the centre of our and Executive Management the highest standards in conduct, operational framework. The function’s protect the assets, reputation compliance and fighting financial crime. strategy is supported by consistent and sustainability of the Group. performance metrics, standards and practices that are aligned to client outcomes. BUSINESS REVIEW BUSINESS BUSINESS MODEL A business model built on long-term relationships We have a sustainable approach to business and strive to achieve the highest standards of conduct. Our business model and strategy are built on capturing the opportunities inherent in our unique footprint by developing deep relationships with clients and helping them connect across the Standard Chartered footprint. Developing these relationships means using both our tangible and intangible resources in a sustainable and responsible manner; deploying them to maximum impact on our profitability and returns. Our resources - the inputs we rely on Our purpose makes us different We aim to use resources in a sustainable way, to Our purpose is what sets us apart: We drive commerce achieve our long-term strategic objectives. and prosperity through our unique diversity. Our strategy helps us achieve our purpose. Human capital Client focus Our diverse colleagues are our greatest asset. Achieving Our clients are our our strategic priorities hinges on the way we invest, business. We build manage and organise our people, the employee long-term relationships experience we curate and the culture we develop. with them. 1,397 employees Robust risk management We are here for the long term. Effective risk management allows us to female 52% grow a sustainable business.
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