KCB recorded 69% increase in profits before tax in the first half year of this year. The earnings increased to sh.3.5b compared to sh.2.07b last year.

Total operating income increased by 34% from sh.6.7b to sh.8.95b driven by foreign exchange earnings that grew by shs.697 million over the period. This performance reflects the bank’s consistency in growth and momentum in the banking business.

Net interest income increased by 37% from sh.4b in June last year to sh5.5 B

Fees and commissions went up by 13% to stand at sh.2.5 B from the previous period’s sh.2.2 B

Though the profits were on high, the total operating expenses were also up by 39% to 5.7B from previous year’s shs.4.1B.

Net provisions for the NPLs, Non Performing Loans, dropped by 147% to shs.732million due to significant recovery efforts.

Bad debt collection has been impressive, with the bank registering a credit of Ksh. 497million

Net loans and advances also increased by 28% to Shs.70.4B.

The bank’s half-year EPS now stands at Ksh. 1.23 with the projected EPS standing at Ksh. 1.88 per share (post-rights). These rights will be listed on August 15 2008. Annualized figures bring the EPS to 2.46 (pre-rights). The bank is most likely to register robust end-year results, especially with the injection of Ksh. 5.5billion from the rights issue.