KCB Group recorded a 22% increase in net profit, reaching Sh24 billion for the year ending December 2018. This growth followed sustained revenue expansion and improved cost control measures.
Net interest income, the bank's primary revenue stream, rose 1% to Sh48.8 billion. Operating expenses fell 10% to Sh37.9 billion, with significant reductions in staff costs (11%), rental fees (17%), and loan loss provisions (50%).
Total assets expanded 10% to Sh714 billion, fueled by growth in loan portfolios, interbank deposits, property holdings, and other assets. Loan book growth reached 8% to Sh456 billion, while customer deposits increased 8% to Sh537.5 billion.
The board proposed a final dividend of Sh2.50 per share, raising the total payout for 2018 to Sh3.50 per share compared to Sh3.00 in 2017.
