Kenya Commercial Bank posts 19.7 Billion Shillings Profit after Tax

Kenya Commercial Bank has posted 19.7 billion shillings as profit after tax for the year that ended on December 31, 2017.

The balance sheet for the lender continued on an upward trajectory, expanding 9 percent from 595.2 billion shillings to 646.7 billion shillings.

The bank also registered an improvement in customer deposits which grew by eleven percent from 448.2 billion shillings to 499.5 billion shillings.

The shareholders’ funds, on the other hand, increased by 10 percent from 97 billion shillings to 106 billion shillings.

The provision for bad debt for Kenya Commercial Bank went up by 55 percent from 3.3 billion shillings to 5.9 billion shillings.

According to the financial statement from the bank, the total assets went up by 9 percent from 595.2 billion shillings in 2016 to 646.7 billion shillings in 2017.

The net loans and advances also increased by 10 percent from 386 billion shillings to 423 billion shilling