KCB has reported a solid start to 2025, posting a KShs. 16.53 billion profit after tax for the first quarter ending March 31. This is a marginal uptick from last year’s KShs. 16.48 billion.
The Group’s total revenue rose 2% to KShs. 49.4 billion, while its balance sheet expanded to KShs. 2.03 trillion. Customer deposits stood at KShs. 1.4 trillion, with loan and advances closing the quarter at KShs. 1.02 trillion. This is despite the foreign exchange pressures from a strengthening Kenyan Shilling.
Paul Russo, Group CEO, credited the performance to collective execution across business units and a focus on digital innovation, saying the Group matched last year’s strong Q1 results despite operating in a tougher environment.
“Our robust balance sheet means we are well positioned to support our customers to navigate the emerging challenges across the region,” said Russo. “We’ll continue leveraging our scale, people and partners to deepen relationships, enhance financial inclusion and power regional growth.”
The Group’s subsidiaries outside Kenya contributed 32% to profit before tax.
The bank saw a drop of 11.3% in provisions for expected credit losses. This was driven by stronger collateral positions and proactive rehabilitation of troubled loans.
The Group’s gross non-performing loans (NPLs) still stood at KShs. 233 billion, with the NPL ratio at a high 19.3%.
Despite that, KCB remains well capitalized. Core capital stood at 16.7% of total risk-weighted assets (well above the 10.5% statutory minimum), while total capital adequacy was at 19.7%.
Return on equity was solid at 23.3%, and total shareholder equity increased 28.4% year-on-year to KShs. 297.1 billion.
The Group is also in the final stages of selling National Bank of Kenya to Access Bank, having received key regulatory and Treasury approvals. It also announced plans to acquire a 75% stake in fintech firm Riverbank Solutions.
This quarter also saw KCB secure $100 million in Tier 2 capital from British International Investment (BII). The bank plans to use this capital to boost climate finance and support for women-led SMEs.
In March, the Group became the first bank in East Africa to integrate with the Pan-African Payment and Settlement System (PAPSS), a move that could dramatically reduce the cost and time of cross-border transactions.
KCB committed KShs. 209 million to the 2025 Safari Rally, supporting local drivers and launching its “Revvisha na KCB” financial wellness campaign. The 2025 EA Golf Tour is underway and is backed by KShs. 90 million investment covering tournaments across five countries.
Meanwhile, technology innovation continues behind the scenes. From launching a Digital Centre of Excellence to upgrading core banking systems and rolling out MSME-focused digital term loans and niche products like the Worship 360 App, KCB is laying the groundwork for a more agile, future-ready bank.
KCB Group Chairman Dr. Joseph Kinyua said the Group remains committed to long-term sustainability and stakeholder value creation.
“From global tariff wars to shifting geopolitics in the East, the headwinds are real. But our fundamentals remain strong, and we are focused on driving shared prosperity,” he noted.
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