Kenya Commercial Bank Group announced a remarkable Profit before Tax of Kshs.2.51 billion for the three month period ended 31 March 2011 compared to Kshs.1.90 billion recorded during the same period in 2010, a commendable growth of 32%.
Key financial highlights include:-
Total customer deposits increased to Kshs.209 billion compared to Kshs.185 billion in March 2010, an impressive growth of Kshs.24 billion representing 13%.
The loan portfolio (net) increased by 23% from Kshs.125.9 billion in 2010 to Kshs.155 billion in 2011.
Total assets increased by a significant 23% to Kshs.270.9 billion compared to Kshs.220.7 billion registered in the same period in 2010.
Net profit increased from Kshs1.332 billion in 2010 to Kshs1.774 billion in 2011, representing a growth of over 33%
On the account of increased lending, Net Interest income increased by 32% to Kshs.5.111 billion from Kshs.3.873 billion recorded in 2010.
Non-funded income increased to Kshs.2.8 billion in 2011 compared to Kshs.2.6 billion in 2010 representing a 7% growth, mainly from fees and commissions and it constituted 35% of the total revenue.
The laudable is more often than not rendered laughable by overclaim