This coupled with a share price appreciation of 90.0% recorded in the year amounts to a total shareholder return of 97.2% in 2024 up from -42.5% in 2023

KCB Group Plc shareholders have approved a KShs. 9.6 billion total dividends payout for the 2024 financial year, reaffirming a sustained return to shareholders, as the Group seeks to consolidate its growth ambitions across the East African region.

The shareholders approved a final dividend of KShs 1.50 per share at the Annual General Meeting in Nairobi on Thursday, as recommended by the Board.

The dividend shall be paid on or about May 23, 2025, net of withholding tax to the shareholders on the members’ register at the close of business on April 3, 2025.

This together with an interim dividend of KShs. 1.50 per share paid on October 23, 2024, brings the total dividend paid for the year to KShs. 3.00 per share, equivalent to KShs. 9.6 billion. This coupled with a share price appreciation of 90.0% recorded in the year amounts to a total shareholder return of 97.2% in 2024 up from -42.5% in 2023.

Speaking during the AGM, Group Chairman Dr Joseph Kinyua noted: "Amidst a challenging operating environment, KCB Group remains committed to supporting businesses, individuals, and communities to weather the challenges and, where possible, provide opportunities for growth through its regional footprint and diverse products, services and solutions.”

On Wednesday, KCB Group reported a profit after tax of KShs.16.53 billion in the first quarter of the year ending March 2025, compared to KShs.16.48 billion reported in a similar period last year, with notable growth in key financial metrics. Total revenues rose 2% to KShs.49.4 billion, while the Group’s balance sheet closed the period at KShs.2.03 trillion, from KShs.1.99 trillion on the back of a stable loan portfolio. The profit before tax contribution by the subsidiaries outside KCB Bank Kenya improved to 32%, resulting from the Group’s focus on deepening regional scale.

"The past year provided the Bank with an opportunity to showcase its resilience underscoring the strength of our fundamentals, strategic direction, and leadership depth. Our focus remains on leveraging the Group’s scale, capabilities, and partners, to deepen financial inclusion and availing the relevant products and services that contribute to economic growth, sustainability, and shareholder value. Based on our performance for the year and our commitment to providing our shareholders with long-term sustainable value from their investment, the Group proposed the payment of interim and final dividends, while ensuring adequate capital retention for growth and regional expansion,” said KCB Group CEO, Paul Russo.

Shareholders were also updated on the ongoing sale of National Bank of Kenya Limited (NBK) to Access Bank PLC (Access Bank), a transaction that is at the tail end. In April, the Group received regulatory approval from the Central Bank of Kenya (CBK) to progress the transaction. KCB also received a nod from the Cabinet Secretary for the National Treasury and Economic Planning, 2025, approving the transfer of certain assets and liabilities of NBK to KCB Bank Kenya Limited pursuant to section 9 of the Banking Act.

On the sustainability front, KCB Group is committed to creating long-term value for shared prosperity through the adoption of Sustainability and Environmental and Social Governance (ESG) practices in decision-making and business growth. In 2024, the bank disbursed green loans worth KShs 53.2 billion and screened loans worth KShs. 513 billion under the Environmental and Social Due Diligence (ESDD) tool.

As part of its shared value agenda, the bank played an active role in supporting the various communities we operate in. This was done through KCB Foundation programmes undertaken across the region. Ends...

About KCB Group PLC

KCB Group Plc is East Africa’s largest commercial bank and was established in 1896. The Group is headquartered in Kenya, with the country serving as the lead market with two banking subsidiaries namely KCB Bank Kenya and National Bank of Kenya. Over the years, the Bank has grown and spread its wings into Tanzania, South Sudan, Uganda, Rwanda, Burundi, and the Democratic Republic of Congo. Our subsidiaries KCB Bank Kenya and Trust Merchant Bank (TMB) also have representative offices in Ethiopia and Brussels, respectively. Additionally, KCB Group owns KCB Bancassurance Intermediary Limited, KCB Investment Bank, KCB Asset Management, KCB Foundation and Kencom House Limited as non-banking businesses. Today KCB has the largest branch network in the region with 538 branches, 1,319 ATMs, and over 1.3 million merchants and agents offering banking services on a 24/7 basis in East Africa. This is complemented by mobile banking and internet banking services with 24-hour contact centre services for our customers to get in touch with the Bank. KCB has a vast network of correspondent relationships totalling over 200 banks across the globe, and our customers are assured of seamless facilitation of their international trade requirements wherever they are.