Business Desk 
KCB Group held its 52nd AGM electronically, where the Group Chairman, Andrew Wambari Kairu and Group CEO, Paul Russo took the shareholders through the achievements delivered by the bank as well as the future prospects for the year 2023.
1. Milestones and regional growth:KCB Tanzania achieved tier I status with assets exceeding TShs. 1 trillion. KCB Burundi celebrated a decade of progress, while KCB Uganda marked its 15-year anniversary. In Kenya, the investment banking and asset management businesses were reorganized to capitalize on opportunities. The acquisition of Trust Merchant Bank(TMB) in the Democratic Republic of the Congo (DRC) was successfully completed.
2. Steady growth and impressive performance:KCB Group maintained steady growth in core indicators, becoming the largest bank in East Africa by assets. The strategy of “Beyond Banking” focused on exceptional customer experience and a digital future. Revenue and net profits reached record levels.
3. Support for MSMEs and digitization:KCB deepened support for micro, small, and medium-sized enterprises (MSMEs) through revised terms for working capital and asset-based finance.Digitization and automation of lending processes improved efficiency. The Female Led and Made Enterprises (FLME) proposition aimed to support women entrepreneurship and create job opportunities. Digital channels witnessed increased usage, with 99% of transactions conducted through non-branch channels.
4. Non-performing loans and strategic measures: KCB implemented plans to reduce non-performing loans, including recovery efforts, write-offs, asset disposal, seeking strategic investors, debt externalization, and administration arrangements.
5. Employee Development:Employees played a crucial role in KCB Group’s success.Ongoing upskilling programs and talent development initiatives were implemented to enhance competencies and provide adequate support.
6. Regional Expansion and Acquisitions:KCB Group aimed to become a significant regional player beyond Kenya.Acquisitions like BPR Bank Rwanda and Trust Merchant Bank (TMB) expanded the Group’s presence and market reach.
7. Sustainability and Community Impact:KCB focused on greening its loan portfolio and conducted environmental and social due diligence screening for projects above KShs 50 million.The KCB Foundation made a significant impact through programs like 2jiajiri to support youth, humanitarian support, and education scholarships.
Outlook for 2023:KCB Group entered 2023 with positive momentum, aiming for a significant step change in culture and performance. The belief in their people, embedded purpose, digital capabilities, and the inclusion of TMB in the Group made them optimistic about the year ahead.
