KCB board proposes Ksh.3.2 bn dividend after recording Ksh.30 bn net profit

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.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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