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Shareholders joy as more banks up dividends on surge in profits

From left: I&M Bank Group Chief Finance Officer David Ngata, Regional Group CEO Kihara Maina, I&M Bank Kenya CEO Gul Khan, and Group General Manager Corporate Advisory Gauri Gupta at the lender's investor briefing in Nairobi yesterday. [Edward Kiplimo, Standard]

Shareholders of tier one lenders NCBA, I&M, and Diamond Trust Bank (DTB) are set for substantial payouts as the lenders announced increased dividends, buoyed by robust profit growth in 2024.

Among the big winners are the billionaire Kenyatta and Ndegwa families, who are among the major beneficiaries of NCBA's generous cash distribution.

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