KCB bank registers increase in improved income streams during half year results
With core capital as a percentage of all risk-weighted assets at 17.7 per cent as opposed to the statutory minimum of 10.5 per cent, the Group capital buffers continued to be far above the legal threshold.
The overall capital to risk-weighted assets ratio was 21.6 per cent as opposed to the legal minimum of 14.5 per cent.
Through the signing of a binding contract with TMB’s stockholders to buy the majority of the lender’s shares during the period under review, KCB sharpened its focus on scaling regional play.
According to the forecast, the deal will close in the fourth quarter of 2022, pending shareholder,
regulatory, and other approvals.
In exchange, KCB will have the option to purchase the remaining 15 per cent of TMB’s shares at a later date.
In order to have a beneficial impact on the environment, society, and governance in the regions where we operate, KCB Group continues to promote sustainable business practices.
Following the release of the CBK recommendations on climate risk disclosures, the bank finished and submitted the Climate risk roadmap to the regulator during the quarter.
Additionally, KCB increased the share of its green portfolio in the entire loan book to 11.68 per cent.
The lender is nevertheless optimistic about a stronger second half and a regional economic recovery.
