KCB GROUP HALF-YEAR PROFIT

KCB half-year net profit increases by five per cent to Sh12.7bn

Net interest grew by five per cent to Sh25.4 billion from Sh24.1 billion.

In Summary

• The bank lending to Treasury grew by 20 per cent to Sh132.9 billion from Sh110.5 billion.

• The operating expenses grew to Sh20.6 billion from Sh18.5 billion.

KCB chief executive Officer Joshua Oigara during the release of full financial result in Nairobi on March 8,2018.
KCB chief executive Officer Joshua Oigara during the release of full financial result in Nairobi on March 8,2018.
Image: ENOS TECHE

KCB Group half-year net profit increased by five per cent to Sh12.7 billion from Sh11.8 billion in the previous period, from the lender's growth of interest income and management of costs.

Net interest grew by five per cent to Sh25.4 billion from Sh24.1 billion

The bank lending to Treasury grew by 20 per cent to Sh132.9 billion from Sh110.5 billion while net loans and advances grew by 14 per cent to Sh478.7 billion from Sh421 billion.

 
 
 

The bank had a four per cent increase in the stock of non-performing loans.

The operating expenses grew to Sh20.6 billion from Sh18.5 billion.

The pre-provision on operating expenses rose by 2.6 per cent.

"This is much sustainable when we have to focus on top-line growth" Group chief finance officer Lawrence Kimanthi said.

According to KCB, customer deposits grew by seven per cent to Sh563.2 billion.

The growth in loans and deposits has raised the leading bank's total assets to Sh746 billion, making it Sh254 billion shy from the Sh1 trillion mark expected to be arrived in the next two to three years.

 

More: