KCB Group has unveiled its 2024 financial results, showcasing a remarkable 65% jump in profit after tax to Kes 61.8 billion. This impressive growth stems from stronger revenue streams and enhanced operational efficiency across the organization.
The Group’s digital lending arm saw significant momentum, with loan disbursements climbing 21% to Kes 407 billion. This surge highlights the success of KCB’s ongoing digital transformation efforts, which have deepened customer access and engagement.
Beyond its digital strides, KCB’s strategic push into new business lines and regional markets delivered a 24% rise in total revenue. However, challenges persist, particularly with asset quality. The Non-Performing Loans (NPL) ratio edged up to 19.2%, driven largely by headwinds in the real estate and agricultural sectors—a notable increase from prior years.
In a nod to its robust performance, KCB Group has proposed a final dividend of Kes 1.50 per share, totalling Kes 9.6 billion for the year. Shareholders can expect payments in late May 2025.
The Group’s regional subsidiaries also shone brightly, accounting for 30% of net profit. These operations posted a striking 42% rise in profit after tax, underscoring their growing importance to KCB’s overall success.
Meanwhile, discussions continue with regulators regarding the sale of National Bank, a process still in progress. With its strong 2024 showing, KCB Group solidifies its standing as a regional financial powerhouse, poised for further growth through sustained investments in digital innovation and cross-border expansion.
