KCB records Ksh. 12.1 Billion half year net profit; an increase of 18%

Joshua Oigara, Group CEO of KCB Group
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KCB Group has today announced that their half year profit after tax has increased to Ksh. 12.1 Billion for the period ended June 30 2018. This is an 18% increase from last year’s 10.3 Billion.

Total income increased from Ksh. 34.6 Billion to Ksh. 35.6 Billion and on the flip side operating expenses reduced from Ksh. 19.9 Billion to Ksh. 18.5 Billion. During the period, deposits rose to Ksh. 525 Billion from KSh. 482.8 billion and the loan book expanded by 4% to KSh. 421.5 billion. Additionally, the balance sheet grew by 6% to KSh. 667.7 billion from KSh. 630.6 billion.

The board of directors has approved a approved a payment of an interim dividend of KShs: 1.00 per share. Shareholders will be paid the dividend in November 2018.

KCB Group Plc is a financial services company with banking operations in Kenya, Tanzania, South Sudan, Uganda, Rwanda, Burundi and Ethiopia. It also owns KCB Insurance Agency, KCB Capital, and KCB Foundation.

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