Thread by @mmnjug

.@KCBGroup recorded a historic 74% rise in profit after tax for the full year ending December 2021, riding on economic recovery across markets.

#KCBFY2021Results

Revenues up 13.5% to Kes108.6B
Net interest income up 15.0% to Kes77.7B
Non funded income up by 9.9% to Kes30.9B
Costs up by 11.9% to Kes47.8B from Kes42.8B
PAT up 74% to Kes34.2B from Kes19.6B
Revenue up 13.5% to KShs.108.6B

#KCBFY2021Results

Total Assets up 15.4% to Kes1.139T
Customer Loans up by 13.5% to Kes675.5B
Customer Deposits up 9.1% to Kes837.1B
NPLs up from 14.7% to 16.5%
Provisions reduced by 52% to close at Kes13.0B fro Kes27.2B

Core capital vs total risk-weighted assets closed at 18.0% against statutory minimum of 10.5%.
Total capital to risk-weighted assets ratio at 21.7% vs a regulatory 14.5% minimum.

.@KCBGroup Board of Directors recommended a final dividend of KShs 2.00 per share. This follows an interim dividend of KShs. 1.00 paid out in January this year.

.@KCBGroup successfully completed the acquisition of BPR on July 31, 2021 and has kicked off integration activities that will see the amalgamation of BPR and KCB Bank Rwanda into a single banking business.

PBT contribution from @KCBGroup businesses went up to 13.7% with a 2022 target of 20%
Overall lending to MSME up by 23% from Kes60B to Kes74B.

.@KCBGroup continued to pursue growth initiatives within its Beyond Banking Strategy (2020-2023) anchored on delivering the very best in customer experience, driving a digital future, and is optimistic of better prospects this year on the back of a projected EAC economic recovery

.@KCBGroup is focusing on putting its customers first with leading value propositions.

To support this MSME support approach, in December, the Bank revamped its MSME proposition across the markets with a Thematic Campaign dubbed #PartnerKwaGround to demonstrate the support KCB extends to MSMEs and position us as a Bank that supports the segment across all sectors.

.@KCBGroup received a series of global accolades, cementing its market leadership position. KCB Bank was in December named the Bank of the Year by the Banker Magazine on the back of its efficiency and cost reduction drive, as well as the continued success of its digital business.

.@KCBGroup was also feted as the Best Sustainable Bank in Kenya by the International Business Magazine for its efforts in driving and ensuring the adoption of sustainable and green financing initiatives.

.@KCBGroup has been at the forefront in championing the adoption of sustainable financial business models, specifically in areas such as responsible lending and green finance.

This keen focus on adopting sustainable business models has seen @KCBGroup being recognized as the “Most Valuable Banking Brand Kenya 2022” by Brand Finance.

#KCBFY2021Results