Douglas Mwiti 
KCB Group PLC profit after tax for the first half of the year ending June rose 86% to KShs.29.9 billion, as the Group sustained focus on supporting customers and economic recovery efforts.
This was a growth from KShs.16.1 billion reported a similar period last year, depicting a resilient performance that also saw the balance sheet expand by 6% to KShs 1.98 trillion, up from KShs.1.86 trillion. As a result, KCB remained the most profitable financial institution in East Africa, and the largest by asset size.
“We delivered a commendable first half of the year, despite strong headwinds in the operating environment, especially in Kenya, thanks to the goodwill and confidence from our customers and commitment by our staff.
We were intentional in working with our customers and stakeholders to support them in navigating the difficult environment,” said KCB Group CEO Paul Russo, while releasing the results on Wednesday.
The performance has helped the Group resume dividends payout, with the Board recommending an interim dividend amounting to KShs. 4.8 Billion, the biggest interim dividend in the lender’s history.
“Looking ahead, we see a stronger second half, leveraging on our Transforming Today Together strategy and the expected economic turnaround in the markets we operate in.
We are confident that this strategy will give fresh impetus to our business, as we focus on cost optimization,” he added.
