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Kenya Commercial Bank Group has announced a 17 per cent increase in pre-tax profit for the nine months ending September 2014 to Sh17.7 billion. This is compared to Sh15.2 million posted in a similar period last year.
This improvement in profitability is attributed to growth in non-funded income and enhanced business efficiencies through the use of alternative channels. KCB has also been on an aggressive campaign to recover previous non-performing loans as exhibited by the drop in non-performing loans (NPL) ratio.
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