Sheer size of KCB loan book supports jump in profits
The contribution by subsidiaries (excluding KCB Bank Kenya) improved during the period, closing at 36.6 percent in profit after tax
Absa’s Timiza and Safaricom Fuliza ya biashara fastest growing platforms
Safaricom’s new overdraft for merchants disbursed Kes32.5 billion in its first full year of operations, making a powerful market grab as the company converts small business seeking payments solutions into loan customers.
Bad loans and acquisition deals cost KCB twice as much to recapitalize
KCB Group plans to borrow $200 million (Kes26.5 billion) to help rebuild the balance sheet of its Kenyan banking subsidiary up from $100 million, about Kes14.5 billion the bank announced last year.