Standard Chartered bank has defied the tough business environment witnessed last year to report a pre-tax profit of 6.7 billion shillings for the year ended 31st December 2009. This result reflects an impressive 43 percent growth in its profitability compared to the previous financial year. Stancharts Chief Executive Officer, Richard Etemesi owes the performance mainly to stringent cost control and prudent risk management that rolled back bad debt by 36 percent.
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