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Total Operating Income Grows 3 per cent to Sh71.4bn on Net Interest Income, Fees and Commissions. KCB Group delivered a strong financial performance last year, recording Kes19.7 billion in after-tax profit for the period ended December 31, 2017.
The profit after tax performance was flat against 2016 and is attributable to a robust loan book growth that offset the impact of lower interest rates following the introduction of the law capping interest rates, a significant growth in fees and commissions resulting from increased usage of our digital channels.
Group CEO and MD Joshua Oigara said on Thursday that the lender grew market share while at the same time recorded gains from cost-reduction programmes and improved operational efficiency.
“The business maintained a strong capital position enabling continued focus on our core lending segments in Retail and Corporate banking, deliberate investments in key strategic themes that are focused on delivering top-notch customer service and leveraging on digital channels for delivery of financial solutions resulting in the sustained growth in shareholder value,” said Oigara told an investor briefing in Nairobi.