Standard Bank Plc has reported a profit of K10.6 bn in 2018, which is a drop from K12.1 bn in 2017, which has shown a 13% profit drop.

In a financial results report, the bank has explained various factors that led to the profit drop, one of the factors being a 13%  year on year drop in net interest income.

The profit drop has also been attributed to contraction of the revenue base, stemming from the drop in interest rates as well as drops in investments towards financial assets.

National Bank and NBS bank have recently called for voluntary retrenchments, citing operation costs cut downs.