KCB Group

KCB Group CEO Paul Russo.
MarketsNews

Higher costs slow KCB’s six-month profit to Sh16 billion

Regional lender KCB Group has suffered a hit in its half-year financial results, with net earnings decreasing by 18.3 percent to Kes16.1 billion due to higher costs in the half. KCB Group CEO Paul Russo said despite a challenging economic environment across our operating markets, the business remained resilient delivering “a strong balance sheet and increased contribution from regional businesses.” “Profitability was under pressure in the first half from increased funding costs on higher market deposit rates, prudent provisioning on legacy credit facilities, and provisions for legacy legal claims at NBK,” added Russo. In the half, the bank’s assets demonstrated remarkable expansion, increasing by an…

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KCB 2Jiajiri
Corporate

KCB’s youth skilling initiative 2jiajiri goes regional

KCB Group is set to roll out 2Jiajiri programme in Tanzania, Uganda, Burundi and Rwanda as the lender expands its youth empowerment and job creation initiative regionally. The lender aims to implement the plan in South Sudan and in the Democratic Republic of Congo later this year to accelerate job creation among the youth in the markets it operates. Today, the KCB Foundation, in partnership with the German Government—implemented by GIZ— graduated 3,500 graduates in the construction sector at an event that was graced by President William Ruto. 2Jiariri seeks to create 1.5 million jobs “We are deliberate and committed to change the youth story

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