KCB Group Plc reported a strong performance for 2024, with net profit rising by 64.9% to KShs. 61.8 billion, up from KShs. 37.5 billion in 2023. This growth was driven by a significant increase in revenue, particularly from interest and non-funded income like foreign exchange trading. Total income grew by 24.0% to KShs. 204.9 billion, while operating costs rose by 11.8% to KShs. 92.9 billion due to investments in technology, staff, and inflation.

The group’s balance sheet closed at KShs. 1.96 trillion, with a stable loan portfolio and a solid deposit base. Provisions for credit losses decreased by 11.0%. In recognition of the strong performance, the bank proposed a final dividend of KShs. 1.50 per share, bringing the total payout to KShs. 3.00 per share.

CEO Paul Russo credited the results to customer-focused strategies, technology, and sustainable growth, while Chairman Dr. Joseph Kinyua expressed confidence in the 2025 economic recovery, particularly in agriculture and services. KCB also continued investing in sectors like sports, financial inclusion, and digital innovation, launching the KCB Group East Africa Golf Tour and focusing on supporting women entrepreneurs and SMEs with KShs. 150 billion in funding. With a strong capital base, KCB is positioned for continued success in 2025.