KCB Group Plc has achieved a significant financial milestone, positioning itself as the first bank in East and Central Africa to surpass the Sh2 trillion asset threshold. This announcement follows incremental profit growth over nine months this year, with profits reaching Sh30.7 billion compared to last year’s corresponding period, where they stood at Sh30.5 billion. This solidifies their leading position within regional banking sectors.

Profit Growth Demonstrates Robustness:

Despite challenging economic and market conditions, KCB Group exhibited resilience, announcing a 27.3% surge in revenue to Sh117.3 billion. The credit for this growth can be attributed to diversified income streams, notably non-funded income, which played an instrumental role.

The Diversification Strategy Reaps Significant Rewards:

With an increase from 16.4% to 27.9%, the bank significantly boosted overall profitability through strategic investments in regional businesses, excluding KCB Bank Kenya. Expanding the balance sheet by 64.5%, organic growth, and the acquisition of Trust Merchant Bank (TMB) in the Democratic Republic of Congo in December 2022 played a crucial role.

Asset Quality Enhancements:

The ratio of non-performing loans (NPLs) at KCB Group improved, decreasing from 18.2% to 16.4%. This positive trend reflects not only the regulator’s efforts to boost asset quality but also underscores the bank’s dedication to maintaining a robust loan portfolio.

Solid Balance Sheet and Capital Buffers:

KCB Group, with a well-diversified balance sheet, remains aligned with its full-year ambitions. For the first time ever, net loans and advances have surpassed the one trillion-shilling threshold, reaching Sh1.05 trillion. Shareholder funds escalated by 19% to Sh226.1 billion while keeping capital buffers within regulatory limits.

Facing Challenges and Exhibiting Resilience:

During the nine months, CEO Paul Russo acknowledged and emphasized the bank’s commitment to resolving customers’ pain points promptly despite facing numerous challenges. The bank’s proactive risk management approach is evident in an increase in loan provisions due to the depreciation of foreign currency-denominated loans against the Kenyan Shilling.


Russo, despite the challenges, exudes optimism: “The bank is on track for long-term growth.” His steadfast focus—to maintain a robust and diversified balance sheet—remains unchanged, aiming to fortify against potential economic uncertainties.