BSP - Chairman's Market Announcement - 2024 Full Year Results
- John Kevau
- Feb 19
- 1 min read
Updated: Mar 18
February 19, 2025
BSP recorded a 17% increase from the prior year to K1.04bn NPAT. The result was largely driven by net operating income, up 8% compared to last year, similarly, income from FX, and the Group's other income also grew 22% and 9% to K561m and K387m respectively.
Total expenses were higher pushing the cost to income ratio from 37% in 2023 to 41.3%. This was attributed to costs relating to the Group's modernization initiatives.
The Group results were further impacted by a reduction in company tax for all commercial bank’s profits above K300 million with a company booking a K36m increase in corporate tax in 2024.
Along with the strong results BSP declared a final dividend of K1.21 a share, payable on 21 March 2025. The stock closed on the local market at K21.00 on Friday whilst it ended the week at $7.60 a share.