Earnings per share in Standard Chartered Bank Zambia is expected to be approximately 27% lower than for the six-month period ended 30 June 2018 compared to the same period last year.
According to a Financial Statement issued on the Lusaka Securities Exchange and obtained by Money FM, the reduction in profitability is primarily attributed to a twenty one percent decrease in non-funded income owing to a reduction in volumes year on year and an increase in operating expenses of 11%.
The statement adds that the impact of these adverse variances was mitigated by a 5% increase in net interest income after provision for impairment.
Meanwhile the Real Estate Investments Zambia has recorded an increase in revenue in the last six months by 21% from K28 million in 2018 to K33.9 million mainly as a result of Arcades shopping mall having returned to normal operations in the first quarter of 2019.
According to a Financial statement released today Profit from operations before change in fair value of investment property grew by 19% indicating stronger operational performance.
The Group recorded a loss after tax of K10.8 million compared to a profit after tax of K12.6 million for the same period in 2018.