{"id":39663,"date":"2021-11-18T16:53:26","date_gmt":"2021-11-18T16:53:26","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=39663"},"modified":"2021-11-18T14:07:34","modified_gmt":"2021-11-18T14:07:34","slug":"kcb-more-than-doubled-its-9-month-profit","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/kcb-more-than-doubled-its-9-month-profit","title":{"rendered":"KCB more than doubled its 9-month profit"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>KCB Group Plc more than doubled its profit after tax for the nine months ending September 30 on high income and reduced by loan provisions.<\/p>\n

The firm’s net profit rose 131 per cent to hit Sh25.2 billion from Sh10.9 billion a year ago as businesses recover from Covid-19.<\/p>\n

KCB Group CEO Joshua Oigara said they focused on cost management, cash preservation and driving sustainable business growth.<\/p>\n

“This was the strongest quarter for us since the Covid-19 pandemic struck 20 months ago, with clear signs of economic recovery across key sectors,” Oigara said.<\/p>\n

\u201cOur focus was on cost management, cash preservation and driving sustainable business growth. Our resolve to support our customers to navigate the crisis has helped them pick up from the subdued business environment,\u201d he added.<\/p>\n

The Group recorded a 16 per cent rise in total income to Sh79.9 billion, on account of higher interest income\u2014driven by an increase in earning assets\u2014, higher non-interest income \u2013 driven by increased transactional volumes and FX income and lower cost of funding.<\/p>\n

Expenses rose nine per cent to hit Sh34.7 billion during the period on account of increased staff costs partially offset by a decrease in other operating expenses as the firm rolled out cost management initiatives to ring-fence the business from the impact of the pandemic.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. KCB Group Plc more than doubled its profit after tax for the nine months ending September 30 on high income and reduced by loan provisions. The firm’s net profit rose 131 per cent to hit Sh25.2 billion from Sh10.9 billion a year ago as businesses recover from Covid-19. KCB Group CEO Joshua […]<\/p>\n","protected":false},"author":84,"featured_media":39662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6857,7003,544],"class_list":["post-39663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nKCB more than doubled its 9-month profit - kenya<\/title>\n<meta name=\"description\" content=\"KCB Group Plc more than doubled its profit after tax for the nine months ending September 30 on high income and reduced ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/kcb-more-than-doubled-its-9-month-profit\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KCB more than doubled its 9-month profit\" \/>\n<meta property=\"og:description\" content=\"KCB Group Plc more than doubled its profit after tax for the nine months ending September 30 on high income and reduced ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/kcb-more-than-doubled-its-9-month-profit\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-18T16:53:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/11\/img-61965e1074e2c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"540\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kcb-more-than-doubled-its-9-month-profit#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kcb-more-than-doubled-its-9-month-profit\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"KCB more than doubled its 9-month profit\",\"datePublished\":\"2021-11-18T16:53:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kcb-more-than-doubled-its-9-month-profit\"},\"wordCount\":231,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kcb-more-than-doubled-its-9-month-profit#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/11\/img-61965e1074e2c.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/kcb-more-than-doubled-its-9-month-profit#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kcb-more-than-doubled-its-9-month-profit\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kcb-more-than-doubled-its-9-month-profit\",\"name\":\"KCB more than doubled its 9-month profit - 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