Kingdom Bank has emerged among the top climbers among the Tier 3 banks in the 2022 Bank Supervision Annual Report by Central Bank of Kenya (CBK).
CBK released the report in line with its mandate of promoting and maintaining the safety, soundness and integrity of Kenya’s banking system.
Although banks continue to operate in a challenging business and operating environment,
the sector has proven to be resilient, recording strong 2022 performance with an overall
sectoral PBT of Kes 240.4 billion which represents a 22% gro
In the report, Kingdom Bank’s Profitability ranking moved up five places from position 23 in 2021 to position 18 in 2022. In Capital and Risk Weighted Assets, the bank moved up 7 positions to 29 from 36 the previous year.
In the report by CBK, Kingdom Bank grew its PBT from Kes 512 million in 2021 to Kes 804 million in 2022 indicating a 57% jump in profit before tax is applied.
This simply means that, in 2022, the Bank was able to generate higher returns from the
resources it had at hand which presents multiple benefits for customers including network
expansion and countrywide coverage, as can be witnessed by the recent opening of Kingdom Bank’s Eldoret and Kisumu branches.
Customers also have the assurance that the Bank is a performing entity. Moving 5 steps up
in the profitability ranking speaks volumes of the potential of the Bank and reinforces its
capacity to support its customers to grow and attain their financial goals.
For the capital and risk weighted assets, this indicates that Kingdom Bank continues to build
its capital buffers which gives both retail and business customers the ability to access higher
loans (as guided by the Bank’s credit policies) at competitive rates to the tune of up to Kes
300 million.