Kingdom Bank has reported a reduced net profit of Ksh. 162 million for the period ended March 31 2025. This is a reduction from the Ksh. 350 million the bank reported in the same period in 2024.
Total operating income reduced minimally to stand at Ksh. 742 million from Ksh. 745 million in the previous period. Operating income was driven by income from loans Ksh. 491 million, deposits in other banking institutions at Ksh. 34 million, and fees and commissions at Ksh. 140 million.
Operating expenses increased to Ksh. 517 million from Ksh. 395 million that was reported in the previous period of Q1 2024. This was driven by loan loss provisions of Ksh. 84 million, staff costs of Ksh. 224 million, and rent at Ksh 34 million.
The Bank’s total assets rose to Ksh. 44.99 billion, up from Ksh 37.8 billion in the previous period, a 19% year on year increase. This growth was driven by a growth in customer lending, with net loans and advances rising by 53% to Ksh 15.9 billion from Ksh 10.4 billion in the previous period.
Kingdom Bank is a subsidiary of Co-operative Bank of Kenya. It operates 23 branches nationwide and provides a range of digital banking services. It includes Dial *334#, the KB Mobile App, DigiLife (internet banking). It also has payment solutions such as the KB Visa card, Kingdom Bank Till and M-Collections solutions. Customers also have access to their accounts through Co-operative Bank ATMs and Co-op Kwa Jirani agents across the country.