Kenya Commercial Bank Net worth Hits Kshs 558Billions!!

Kenya Commercial Bank Net worth Hits Kshs 558Billions!!

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Congratulations to East  Africa’s Largest Bank, KCB Group for the impressive  2015 Full year results that has posted a 16% growth in profit after tax to Ksh 19.6B.

KCB-Group-CEO
KCB Group CEO Joshua Oigara

The group Balance sheet has hit Ksh 558B indicating a 14% growth giving a robust funding portfolio. It is believed that this is as a result of Devaluation of the South Sudan Currency leading to this huge Profits.

The Kenya Commercial Bank 2015 Full Year results released on 2nd March 2016 indicated that there’s a continued growth of the mobile platforms i.e KCB M-Pesa account and KCB Mobi. The announcement indicated that the KCB M-Pesa account had grown their customers to 4.7 Million customers while KCB Mobi customers stood at  2 Million customers. Mobile banking alone has driven KCB customers to 10 Million.

result announcement

Through KCB M-Pesa, the bank issued Kshs. 6.7 Billion in loans with customers saving Kshs. 2.4 Billion. The average loans issued by the platform was Khs. 2,000. while as through KCB Mobi, the bank issued Kshs.  2.3 Billion with outstanding loans at Kshs. 600 Million in average loans via Mobi stood at Kshs. 5,000. These two platforms indicate an estimated 95% of the total loans issued in 2015.

Loans

In overall, the bank marked a 12% rise in Profit Before Tax to Kshs 26.5 Billion Profit After Tax Grew By 16% to Kshs. 19.6 Billion.Growth

The Group CEO, Joshua Oigara was pleased announcing the 2015 FY results and also announced that the group will be into the market in 2016 to raise their two capital. The CEO also said “We aim to grow customer and employee satisfaction to 85% in 2016”.

CEO

 

 

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