KCB full-year net profit rises 74 percent to Sh34.2 billion

Outgoing KCB Group CEO Joshua Oigara. FILE PHOTO | NMG

KCB Group’s #ticker:KCB net profit for the year ended last December rebounded to grow a record 74 percent to Sh34.2 billion, largely lifted by lower provisions against bad debts and increased revenue.

The lender’s net earnings had dropped 22 percent to Sh19.6 billion the year before on increased provisions for coronavirus-related defaults.

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