Nairobi, May 15 -- Standard Chartered Bank of Kenya has disclosed that it last year paid $20 million (Sh2.48 billion), being part of loans it had tapped from its parent firm, Standard Chartered Plc.

The lender had tapped the amount in 2013 as an unsecured 10-year subordinated loan to enhance its capital base and had the option to recall the loan after five years.

"In 2022, the Company exercised its right to redeem US$ 20million of the 2013 subordinated debt that was callable," says StanChart Kenya in the latest annual report.

The transaction cut the bank's outstanding loans from the parent company to $40 million (Sh4.96 billion) at the end of December last year from $60 million (Sh6.8 billion) in the previous year.

The Kenyan unit had...