{"id":471526,"date":"2021-05-28T10:54:10","date_gmt":"2021-05-28T10:54:10","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=471526"},"modified":"2021-05-28T10:54:10","modified_gmt":"2021-05-28T10:54:10","slug":"kenya-slight-increase-in-net-profit-of-kcb-group-in-the-first-quarter-of-2021","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/05\/28\/kenya-slight-increase-in-net-profit-of-kcb-group-in-the-first-quarter-of-2021\/","title":{"rendered":"Kenya: slight increase in net profit of KCB Group in the first quarter of 2021"},"content":{"rendered":"
<\/div>

KCB Group Plc announced on May 26, 2021 that it recorded 1.8% profit growth for the first three months of the year. The Nairobi Securities Exchange-listed bank increased its after-tax profit to Ksh 6.37 billion ($ 59.53 million) from Ksh 6.26 billion ($ 58.5 million) at the same period in 2020.<\/p>\n

“The economic environment improved slightly during the quarter, although uncertainties related to the pandemic remain a major risk to the outlook,” Chief Executive Officer Joshua Oigara said in a group statement.<\/p>\n

During the period under review, operating profit increased slightly by 0.38% to Ksh 23.04 billion (USD 214 million) from Ksh 22.95 billion (USD 213.6 billion). For their part, interest income increased 8.71% to Ksh 21.96 billion ($ 205.23 million) from Ksh 20.2 billion ($ 188.78 million).<\/p>\n

According to the group’s unaudited financial statements, total assets rose 3.27% to Ksh978 billion ($ 9.14 billion) from Ksh 947 billion ($ 8.85 billion). Customer deposits increased 1.21% to Ksh 749 billion ($ 7 billion) in the first quarter of 2021, compared to Ksh 740 billion ($ 6.91 billion) in the first three months of the previous year.<\/p>\n

Regarding net lending, they increased 7.79% to Ksh 597.1 billion ($ 5.58 billion) against Ksh 553.9 billion ($ 5.17 billion).<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

KCB Group Plc announced on May 26, 2021 that it recorded 1.8% profit growth for the first three months of the year. The Nairobi Securities Exchange-listed bank increased its after-tax profit to Ksh 6.37 billion ($ 59.53 million) from Ksh 6.26 billion ($ 58.5 million) at the same period in 2020. “The economic environment improved<\/p>\n","protected":false},"author":536116,"featured_media":471527,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[16158,12000,11996],"tags":[16991,3650,53,18379,17831],"class_list":["post-471526","post","type-post","status-publish","format-aside","has-post-thumbnail","category-bank","category-banks-insurance","category-finance-en","tag-16991","tag-kcb-group","tag-kenya","tag-net-profit","tag-the-first-quarter","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"\nKenya: slight increase in net profit of KCB Group in the first quarter of 2021 - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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