KCB first quarter profit drops 3pc to Sh9.5bn on DRC unit costs

kcb-russo

KCB chief executive Paul Russo. FILE PHOTO | NMG

KCB Group net profit for the first three months of the year has dropped by 2.9 percent to Sh9.5 billion on increased costs, including that of consolidating the unit it acquired in the Democratic Republic of Congo (DRC) last December.

The retreat in net earnings from Sh9.79 billion posted in the first quarter of 2022 was despite the growth in both interest and transactions income during the review period.

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