Browsing: KCB Group (Plc)

• KCB Group’s net profit reached KShs.25.2 billion riven by higher income and reduced provisions 
• The group’s directors approved an interim dividend of KShs.1.00 for every ordinary share of KShs.1.00 held
• Customer deposits stood at KShs.859 billion, an 11% jump largely due to organic growth in Kenya

Regional banker KCB Group Plc has more than doubled its profit after tax for the nine months ending
September 2021.

The bank’s net profit stood at KShs.25.2 billion from KShs.10.9 billion a year ago, marking a 131% jump, driven by higher income and reduced provisions as recovery from the COVID-19 pandemic accelerated in quarter three.

Commenting on results, the bank’s Group Managing Director and CEO Joshua Oigara said this is the strongest quarter for the company since the COVID-19 pandemic struck 20 months ago, with clear signs of economic recovery across key sectors.

“While we are cautiously optimistic of the prospects, especially due to …