Banking Giant hit it big with 22% profit up recorded

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Interest income, fees and commissions contributed the lion’s share of the bank’s Sh71.8 billion operating income. KCB Group Chief Executive Joshua Oigara says a diversified business model and a strong risk discipline helped the financial services company navigate the pressures of interest rates cap in Kenya and economic volatility in some of our subsidiaries.

KCB Group has posted a profit of Sh24 billion for the full year 2018, a 22 percent increase from the previous year, propelled by increased revenue across funded and non-funded streams and cost management initiatives.

“The Group’s performance is a reflection and outcome of our growth strategy, maximizing on our strengths, agility into emerging opportunities and the inherent potential to drive value creation for the shareholders and the communities in the markets we operate in,” said Oigara.

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