KCB Group profit after tax for the full year 2024 grew by 64.9% to KShs. 61.8 billion, accelerated by strong topline expansion across all businesses. This was a rise from KShs. 37.5 billion reported a similar period last year.
The Group’s balance sheet closed the year at KShs.1.96 trillion, funded by a strong deposit franchise and stable loan portfolio, despite the tough operating environment.
Total revenues increased 24.0% to KShs. 204.9 billion on higher interest income and non funded income arising from foreign exchange trading income.
Commenting on this, Group Chief Executive Officer, Paul Russo said, “The strong performance illustrates our resolve over the past 3 years to build an organisation for the future that is anchored on delivering value for our customers, shareholders and all stakeholders. The Group strives to be more agile by rethinking our customer-centered value propositions and leveraging Group capabilities in the markets where we operate in. Our focus is on ensuring we have fit-for-purpose technology that delivers seamless, reliable, secure, and innovative solutions for our customers,” said Mr Russo while releasing the results on Wednesday in Nairobi.
“Beyond financial performance, we stayed true to our brand purpose, For People. For Better, by continuously innovating and delivering products that open doors of opportunity for all our stakeholders. In line with, our 2024–2026 Strategy dubbed Transforming Today Together, we remain committed to the principle of Sustainability and Shared Value— unlocking impact in a meaningful and socially responsible way.” he added.
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