On November 8, 2016, Kenya Commercial Bank has announced a pre-tax profit of Sh22.94 billion (US$226 million) for the first three quarters of 2016, up 18% compared to the same period in 2015.

The lender which also operates in Uganda, Tanzania, Rwanda, Burundi and South Sudan, also said in a financial statement that net interest income from its Kenyan assets rose at a faster pace than in other markets, spurred by an 8% growth in loans to customers that reached Sh332.28 billion.

However, its profits were impaired by its South Sudan business as the Central Bank of the country devalued the local currency.

It should be recalled that Kenya Commercial Bank at the occasion of presentation of annual results for 2015 said it planned to expand to the Democratic Republic of Congo, Mozambique and Somalia, by 2020.