Nairobi – The KCB Group has published its fiscal year-end results for December 2024.
The company has seen a 64.9% rise in post-tax earnings to KSh 61.8 billion when compared to the prior year.
Lawrence Kimathi Kiambi, who serves as the KCB Group finance director, linked the increase in profits to a 24% rise in revenue.
What was the revenue generated by the KCB Group?
KCB’s fiscal year 2024 investor presentation emphasized robust revenue expansion, fueled by several elements including interest earned from customer loans, investments in government bonds, deposits, and an increase in non-funded income (NFI) via trade financing, digital platforms, and foreign exchange earnings.
The overall revenue reached KSh 204.9 billion. Notably, interest income played a crucial role, comprising KSh 153.6 billion (26%) from loans, KSh 50.2 billion (18%) from government bonds, and an interestingly high figure of KSh 9.6 billion (148%) from deposits.
Additional revenue streams comprised foreign exchange earnings, which surged significantly by 62% to hit KSh 17.5 billion. Loan processing charges experienced a slight rise of 1%, totaling KSh 11.5 billion, whereas service fees climbed by 14% to reach KSh 30.8 billion.
Revenue from subsidiaries
The income generated by subsidiaries not part of KCB Bank Kenya expanded by 16%, reaching Ksh 73.2 billion, accounting for 38.2% of the overall group revenue—a minor drop from the previous year’s figure of 39.2%.
At KCB Bank Kenya, which was responsible for contributing the biggest portion of the group’s revenue with Ksh 118.23 billion—equivalent to 62% of all earnings—the performance stood out notably. Within their subsidiary lineup, both KCB Uganda saw an increase of 25%, and remarkably, KCB South Sudan recorded the most significant annual progression with a rise of 53%.
The TMB segment produced KSh 30.67 billion, which constitutes 16% of the overall group income. The contribution from NBK stood at KSh 12.65 billion, making up 7%, whereas BPR supplied KSh 10.11 billion (constituting 5%). Additionally, KCB Uganda and KCB Tanzania reported earnings of KSh 6.28 billion and KSh 5.49 billion correspondingly.
In addition, KCB South Sudan provided KSh 4.1 billion, whereas KCB Burundi and KCB BIL contributed KSh 1.37 billion and KSh 1.92 billion, respectively.
KCB has declared a dividend of KSh 9.6 billion for the year 2024, attributed to robust profitability and healthy capital reserves.
