KCB Group quarter three net profit jumps to Sh19 billion
SEE ALSO :Mumias fires all workers“Going forward, we are emphasizing on driving more sustainable growth, excellent customer experience and diversification.” International Subsidiaries The banks says despite a tough operating environment in the countries it operates in, the international business (excluding the Kenya subsidiary) posted improved performance. The combined after-tax profit increased 8 per cent to Sh1.3 billion. Other than the Ugandan business, the rest of the four banking subsidiaries returned a profit. According to KCB, the acquisition of the National Bank of Kenya (NBK) is expected to further cement the lender’s position in the domestic banking sector and strengthens its ability to access more business flows. On November 1, NBK announced profits before tax of Sh675 million for the period ended September 30, 2019, representing a 45 per cent growth from a similar period in 2018.
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