The KCB Group shareholders have approved a final dividend payout amounting to Ksh 3.2 billion for the 2022 financial year.
The approval now brings total dividend payout to Ksh 6.4 billion following a Ksh 3.2 billion in interim dividend declared at the end of last year.
The dividend pay stems from the bank’s 20pc increase in full year net profit last year to Ksh 40.8 billion, which in turn raised the KCB Group’s return on equity by 60 basis points to 23pc.
“In the face of a challenging and volatile business landscape, the Group remained resilient, continuously delivering value to stakeholders, and solidifying the foundation of the enterprise. We have in place a robust strategy that enables us to prudently deploy our capital and resources across the region to ensure superior returns from our investments,” said Andrew Kairu, KCB Group Chairman.
The lender says BPR Bank, KCB Bank Tanzania, and KCB Bank Uganda contribution to the group’s gross profits from group businesses also grew 17pc.
“We have maintained a steady growth in all our core indicators which has culminated to an impressive performance both in balance sheet and in profitability. This was made possible by strong revenue momentum across the corporate and retail businesses.
Our focus was on delivering value and support to our customers to help them navigate the tough economic environment, while driving revenue growth for the Bank through both funded and non-funded income lines,” added Paul Russo, KCB Group Chief Executive Officer.
The bank expects investments in the regional business to continue paying off with its latest acquisition Trust Merchant Bank (TMB) helping to deliver 35pc increase in gross profits.