The Kenya Commercial Bank (KCB) board has proposed a dividend of Ksh.3.2 billion after it reported a Ksh.30 billion net profit in nine months to September 2022.
If approved, a share will attract an interim dividend of Ksh.1
The bank recorded 21.4 percent growth in profits to Ksh.30 billion in its quarter three results compared to Ksh.25.2 billion recorded similar period last year.
The growth was anchored on improved net interest, non-funded income lines and growing contribution by its businesses outside Kenya, which contributed 16.3 per cent up from 15.2 per cent last year, after the acquisition of Rwanda’s BPR Bank.
“We are seeing strong revenue momentum across the corporate and retail business which positions us to meet our full year outlook. Our focus has been on delivering value and support to our customers to help them navigate the tough economic environment,” said KCB Group CEO Paul Russo.