KCB net profit up 17.4pc on higher interest, income
What you need to know:
Total interest income rose 14 per cent to Sh47.4 billion as the stock of outstanding loans expanded to Sh283.7 billion from Sh227.7 billion.
KCB posted a 17.4 per cent rise in net profit for the year ended December, helped by a double-digit increase in interest and other income.
The bank’s net profit stood at Sh16.8 billion in the period compared to Sh14.3 billion the year before.
Total interest income rose 14 per cent to Sh47.4 billion as the stock of outstanding loans expanded to Sh283.7 billion from Sh227.7 billion.
Other income, including fees on transactions, increased 28.4 per cent to Sh22 billion and supplemented the mainstay lending business.
Chief executive Joshua Oigara said all the subsidiaries made profits in the period. The bank has declared a dividend of Sh2 per share, same as for 2013.
