This archive report was first published on 14 November 2019.
Published on November 14, 2019, KCB Group has announced a significant increase in its net profit for the nine months to September 30, reaching Ksh.19.2 billion.
The bank's performance mirrors that of its close rival Equity, with a 6.7 percent jump in earnings from a similar period in 2018.
During the period, KCB's loan book to customers expanded to Ksh.486.4 billion, while the bank cut its investment in Treasuries, resulting in a 11.5 percent fall in its fair value investment in government securities to Ksh.59.9 billion.
Customer deposits soared to a high of Ksh.586.7 billion, with net interest income growing by similar margins to profit after tax, hitting Ksh.38.7 billion.
The lender's leverage on digital channels saw KCB's share of non-interest funded income surge forward by 17.3 percent to Ksh.21 billion, propping up fees and commissions by 28 percent to Ksh.14.1 billion.
