NAIROBI, Kenya- KCB bank has posted a Profit After Tax (PAT) of Sh16.53 billion, a marginal increase from Sh. 16.48 billion in Q1 2024.
The lender says the results come on the back of a turbulent operating environment marked by economic uncertainty and regional volatility.
Its total revenues rose by 2pc to Sh49.4 billion, while the Group’s balance sheet grew to Sh2.03 trillion, up from Sh1.99 trillion, driven by a stable loan portfolio.
The Group’s regional expansion efforts continued to bear fruit, with subsidiaries outside Kenya contributing 32pc of the profit before tax, highlighting KCB’s increasing regional scale.
“The quarter’s performance reflects a strong push by teams across the business. The Group was resilient, supported by new business lines, deeper digital adoption, and innovative customer value propositions,” said its CEO Paul Russo.
On the flip side, the lenders’ operating costs rose 7.8pc to Sh22.7 billion, driven by workforce-related expenses and planned investment in technology.
However, the Group reported an 11.3pc decline in provisions for expected credit losses, crediting tighter monitoring of non-performing loans (NPLs) and improved collateral coverage.
KCB’s gross NPLs stood at Sh233 billion, with an NPL ratio of 19.3pc, underscoring continued pressure across several sectors.
Customer deposits were reported at Sh1.4 trillion, while loans and advances totaled Sh1.02 trillion, despite currency pressures stemming from a stronger Kenyan shilling.
