Interim Statement

KCB Group Q3 Profits Stagnates

Kenya Commercial Bank Group Pretax profit for the nine months ended September 2009 rose marginally to 1.43% to stand at Ksh.5.27 billion from Ksh.5.2 billion the same period in 2008. The Groups Net profits dropped 6.98% to Ksh.3.5 billion.

Operating income grew by 14.4% to stand at Ksh.17.4 billion, mainly attributable to a 58% growth in loans and advances in both corporate and retail segments. Foreign exchange income grew by 37% to Ksh.1.5 billion owing to market volatility and increased volumes.

Customer deposits rose 36% to Ksh.151 billion from Ksh.111 billion in 2008. Similarly, the bank’s loans and advances to customers increased during the nine months by 29.6% to Ksh.114 billion.
KCB is amongst the leading banks in the region, and operates in Kenya, Tanzania, Southern Sudan, Rwanda and Uganda. The Group continued with its expansion programme that has seen it open over 200 outlets across the region.

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