This archive report was first published on 14 November 2019.
Thursday, November 14, 2019, marked a significant milestone for KCB Group as its after-tax earnings for the first nine months to September grew 6.2 percent to Sh19.2 billion.
The impressive performance was driven by increased interest and non-interest income, as well as effective cost management.
According to KCB chief executive Joshua Oigara, the bank had a strong quarter, with growth across various segments.
"We made continued strong investments in our capabilities to serve customers better," Oigara said.
"The international businesses have continued to improve while our digital offerings are witnessing increased activity," he added.
Group net interest income expanded seven percent to Sh38.7 billion, supported by a 12 percent growth in loan book to Sh486.4 billion.
Subsidiaries' after-tax profit increased eight percent to Sh1.3 billion, with the Ugandan operations being the only ones to return a loss.
