pretax profit - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

KCB Bank grows first quarter profit by 53 per cent to KSh16 billion

Sacco ReviewMay 22, 202403 mins

Kenya’s KCB Group’s pretax profit for the first quarter of this year jumped 53 per cent, assisted by higher interest income, it announced on Wednesday, May 22. The lender, which also operates in Uganda ,Tanzania, Democratic Republic of Congo, Rwanda, South Sudan, and Burundi, said pretax profit rose to KSh21.16 billion from KSh13.85 billion in the…

CIC profits increase by 818 per cent to KSh1.4 billion in 2023

Sacco ReviewMay 15, 202402 mins

CIC Insurance Group’s 2023 profit after tax increased by 818 per cent of Sh1.4 billion as a result to the improved investment income and growth in insurance revenue. “The business maintained a growth trajectory driven by the execution of our transformational initiatives focusing on customer experience, performance management, operational efficiency, digital transformation, research and innovation,…

KCB shareholders get zero dividends as profit declines

Sacco ReviewMarch 22, 2024March 27, 202402 mins

Kenya’s KCB Group posted a 15 per cent drop in pretax profit in 2023 to KSh48.5. Therefore, it announced it would not pay a dividend for the period in order to conserve capital. For the first time in 21 years, KCB Group shareholders will miss out on dividends after the bank reported a net profit to…