Corporate News
A KCB banking hall. The lender plans to offer Islamic banking products through its entire branch network. PHOTO | FILE
By BD REPORTER
In Summary
- Total interest income rose 14 per cent to Sh47.4 billion as the stock of outstanding loans expanded to Sh283.7 billion from Sh227.7 billion.
KCB posted a 17.4 per cent rise in
net profit for the year ended December, helped by a double-digit
increase in interest and other income.
The bank’s net profit stood at Sh16.8 billion in the period compared to Sh14.3 billion the year before.
Total interest income rose 14 per
cent to Sh47.4 billion as the stock of outstanding loans expanded to
Sh283.7 billion from Sh227.7 billion.
Other income, including fees on
transactions, increased 28.4 per cent to Sh22 billion and supplemented
the mainstay lending business.
Chief executive Joshua Oigara
said all the subsidiaries made profits in the period. The bank has
declared a dividend of Sh2 per share, same as for 2013.
ALSO READ: KCB’s Sharia service opens income stream
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