KCB Group posted a slight 0.3 increase in Q1 profit to 127.9 million, as strong interest income offset declines in non-interest earnings amid macroeconomic pressures.
Customer deposits reached 10.84 billion while total loans hit 7.7 billion, as the bank maintained lending growth despite currency headwinds tied to a strengthening shilling.
CEO Paul Russo reaffirmed the groups commitment to technology, partnerships, and financial inclusion as strategic pillars driving sustainable growth across the region.
Kenya Commercial Bank KCB Group Plc, a Nairobi-based financial services company led by Kenyan banker Paul Russo, posted a marginal uptick in earnings for the first quarter ending March 2025, with profit rising to nearly 128 million. The performance was driven by regional growth and digital innovation despite a tough operating environment.
KCB posts marginal profit as non-interest income fallsAccording to the groups recently published financial results , KCB Group reported a marginal 0.3 percent year-on-year rise in net profit to KSh16.53 billion 127.94 million for the quarter ended March 2025, up slightly from KSh16.48 billion 127.57 million a year earlier.
The subdued profit growth was underpinned by an 8.6 percent increase in interest income, which rose to KSh33.72 billion 261.01 million from KSh31.06 billion 240.35 million. However, this was partially offset by a 9.7 percent decline in non-interest income, which fell to KSh15.72 billion 121.68 million from KSh17.42 billion 134.84 million.
Customer deposits reached KSh1.4 trillion 10.84 billion, while loans and advances closed at KSh1.02 trillion 7.9 billion, despite currency headwinds tied to the strengthening of the Kenyan Shilling against the U.S. dollar.
Paul Russo highlights resilience, eyes growthGroup CEO Paul Russo commended the Groups resilience, noting that its performance for the quarter reflected a strong collective effort across all business units. He said: The quarters results underscore the commitment of our teams and the strength of our operations. With a strong balance sheet, we are well-positioned to support our customers in navigating emerging regional challenges.x2019