Kenya: KCB Earnings Jump 40 Percent to Sh9.1 Billion

Kenya Commercial Bank yesterday reported a 40 per cent growth in profit before tax for the nine months to September 31 to stand at Sh9.1billion up from Sh6.5billion over the same period last year. Profit after tax stood at Sh6.43billion placing it second to Equity Bank among the banks that have reported so far. Strong growth in fees and commissions as account holders grew to 1.8million and redirection of investments from government securities to lending were the main drivers to profit growth. Source