KCB half-year profit doubles to Sh15.3b on lower loan provision

(L-R) KCB Group CEO and MD Joshua Oigara with KCB Group Chairman, Andrew Wambari Kairu and KCB Group Chief Finance Officer, Lawrence Kimathi, during the KCB Group half-year financial results announcement. The Group announced a profit after Tax growth up 102pc to Sh.15.3 billion from Sh.7.6 billion.

KCB Bank more than doubled its net profit in the first half of the year to Sh15.3 billion, largely on account of increased loan repayments.

In the same period last year, the lender recorded a profit after tax of Sh7.6 billion at a time when banks were overwhelmed by a surge in non-performing loans.