KCB Group Posts Flat Q1 Profit Growth on Subdued Digital Lending

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KCB Bank Kenya, Kencom Branch: KHUSOKO

KCB Group on Wednesday reported a flat 1.8 per cent growth in first quarter net profit at KSh 6.37 billion, compared with KSh 6.26 billion in the corresponding quarter last year.

The lender’s Non-interest income declined 20 percent to KSh6.3 billion from KSh7.8 billion.

“Overall performance was largely impacted by lower non-interest income due to subdued digital lending on reduced disbursements and lower customer transactions,” chief executive Joshua Oigara said in a statement.