KCB Group disclosed Sh24 billion in net profit for 2018 during an investor briefing held on March 6, 2019, marking a 22% increase from the Sh19.7 billion recorded in 2017. The financial institution attributed the growth to higher interest income and a 4% reduction in operating expenses, which fell to Sh35 billion.
Lawrence Kimathi, group chief financial officer, noted that net interest income rose to Sh48.8 billion from Sh48.4 billion in 2017. Loan portfolios expanded to Sh455.9 billion, up from Sh423 billion, while total assets reached Sh714.3 billion compared to Sh647 billion in the prior year. Customer deposits also increased to Sh537.5 billion from Sh500 billion.
The bank, which operates across East Africa, emphasized its 2019 expansion strategy during the briefing, citing improved regional performance as a key driver for continued growth.
