KCB Group Leverages Regional Expansion to Post KShs. 45.8B Profit

KCB Group Plc Posts 49% Rise in Profit After Tax to KShs. 45.8B. Growth driven by KCB Kenya rebound and continued international businesses momentum, delivering the benefits of diversification

KCB Group PLC recorded KShs. 45.8 billion in profit after tax for the first nine months of the year, driven by sustained revenue growth. This was a 49% growth from KShs.30.7 billion posted a similar period last year.

Revenues increased by 22% to KShs.142.9 billion, bolstered by both funded and non- funded lines across the subsidiaries.

The contribution by subsidiaries (excluding KCB Bank Kenya) improved during the period, closing at 36.6% in profit after tax and 34% in total assets, a demonstration of the continued benefits of diversification to other markets outside Kenya.

The operating environment has been tough across all our markets, but we have continued to walk the journey with our customers while ensuring our key fundamentals remain strong. We are optimistic of a strong end of the year, riding on improving market conditions, solutioning for customers and tapping the great strength of our people.

The Group continued to leverage its deep understanding of local markets and cultures, allowing us to provide tailored financial solutions to customers wherever they are in the region. We have made deliberate investments to support regional trade and connect millions of people across the world to opportunities on the African continent and beyond whilst making a positive social impact in the communities.

– Paul Russo, CEO, KCB Group