KCB Group’s FY pretax profit jump to Sh25Billion on foreign subsidiaries

By Steve UMIDHA Last updated Mar 12, 2020

Kenya Commercial Bank Group has recorded a 5 per cent jump in after tax profit for the year ended 2019.

Thursday the bank said its after-tax profit for 2019 jumped to Sh25.2 billion from Sh23.9 billion in 2018. The performance is linked to strong income growth in the Kenyan business and international subsidiaries.

Net interest income expanded 15 per cent to Sh56.1 billion from Sh48.8 billion due to a 17 per cent growth in loan book, digital lending and additional interest income from NBK.

Earnings per share at the group, which also operates in neighbouring Uganda, Tanzania, Rwanda, Burundi, and South Sudan, increased to 8.11 shillings during the period, from 7.83 shillings a year earlier.

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Steven Umidha is a data and financial journalist with over 15 years of work experience in journalism and communication.

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