Kenya: Cost Cutting Lifts KCB Third Quarter Profit to Sh18 Billion

15 November 2018

Kenya's biggest bank by assets KCB Group #ticker:KCB reported a 19.6 percent jump in net profit for the nine months ended September, buoyed by cost management and a drop in provision for bad debts.

KCB said Wednesday that its net earnings grew to Sh18 billion from Sh15 billion a year earlier, widening its profits gap with rival Equity Group, whose net profit rose 7.6 percent to Sh15.7 billion in the same period.

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