KCB Group’s Democratic Republic of Congo acquisition target Trust Merchant Bank made twice as much in fees and commissions compared to net interest income in 2021, pointing to the influence of non-funded income on the performance of Congolese lenders.
Disclosures on TMB books in a shareholder circular sent by KCB to its shareholders ahead of the takeover show that the DRC lender made Sh6.03 billion in fees and commissions last year, while net interest income stood at Sh3.07 billion.
