KCB Group's net earnings grew by 53 percent to Ksh.9.9 billion in the first quarter ended March 31, 2022.
This was helped by higher interest and non-interest income and lower loan loss provisions. KCB’s net profit in Mach 2021 stood at Ksh.6.4 billion.
Outgoing KCB chief executive
Joshua Oigara’s term at the Kenya Commercial Bank (KCB) has come to an end following a ten-year reign at one of Kenya’s most profitable bank.
Sources reveal that the bank is set to replace Oigara with Paul Russo, who is currently the Managing Director of the
KCB Group PLC has finished a merger process for its KCB Bank Rwanda and Banque Populaire du Rwanda (BPR) after it received regulatory approval from the National Bank of Rwanda (BNR).
This will see the name of the newly merged entity changed to named BPR Bank
The Kenya Commercial Bank (KCB) has gained 74 percent to post Ksh.34.2 billion net profit from Ksh.19.6 billion registered last year.
The rise in performance has been driven by the growth in the total income of Ksh.108.6 billion, going up by 14 percent year over year
Kenya Commercial Bank (KCB) has been named the Best Investment Bank in Kenya in 2022.
The Global Finance Magazine also named the lender as the most Valued Banking Brand in the country.
The recognition comes against the backdrop of economic headwinds caused by the coronavirus pandemic, where
KCB Group Plc more than doubled its profit after tax in nine
months to September 30, 2021, placing it among the best performing banks in
terms of profits despite the ongoing Covid-19 pandemic.
Net profit stood at Ksh.25.2 billion from Ksh.10.9 billion a
year ago, a 131 percent jump,
Kenyans could soon go back to paying charges for cash transfers from bank accounts to their mobile money wallets.
Banks are already in talks with the Central Bank of Kenya
(CBK) to bring back customers’ transfer of money from bank accounts to mobile
Kenya Commercial Bank
KCB Group PLC has completed the acquisition of Banque
Populaire du Rwanda Plc (BPR) from Atlas Mara Mauritius Limited and Arise B.V.
This makes the lender a majority shareholder with a 76.67 percent stake in the Banque Populaire du Rwanda Plc totalling Ksh.4.6 billion
This follows the securing
KCB Group has posted a strong performance in the first half of the year, to record double net profit of Ksh.15.3 billion compared to Ksh.7.6 billion recorded same period last year.
Profit after tax doubled to Revenues increased by 14 percent
on account of higher interest income
KCB Group has welcomed the decision by the National Assembly
to lift the cap on interest rates.
The lender’s Chief Executive Officer (CEO) Joshua Oigara
said customers should not expect a sudden increase in the interest rates
following the amendment of the Finance Bill, 2019 to accommodate the