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KCB Group Beat the Odds to Post Ksh 10.2 Billion Profit in Six Months

KCB Group has surprised the market and posted a Ksh10.2 billion profit for the first half of the financial year ending June 2017.

The strong performance of KCB is linked to its impressive delivery on its retail, corporate banking and the non-interest income.

KCB Group Chief Executive Officer Joshua Oigara has said the bank remains is focused even with the headwinds of interest rates cap and country economic downturn.

Some of the banks impressive performance sectors includes forex income which increased 3 percent to Sh2.64 billion from Sh2.57 billion, fees and commission went up 14 percent to Sh7.21 billion, total loans and advances increased by 17 percent to Sh407 billion leading to a total of Sh630.6 billion worth of assets of the bank.

The bank’s customer deposits increased to Sh482.8 billion representing a growth of 1 percent.

Written by Robert

Respected Kenyan blogger, tech evangelist, and social justice activist. Robert is known for his hard-hitting articles and opinions disseminated through his Twitter handle @RobertAlai or Facebook page (www.fb.com/RobertAlai).

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