Abacus Wealth Management

KCB declares KES 15 Billion in pre-tax profit for 2011

Kenya Commercial Bank’s profit after tax rose by 53 per cent in 2011, rising from 9.8 Billion in 2010 to KES 15.1 Billion in 2011. The bulk of the earnings, KES 14B, was contributed by KCB bank wile its subsidiaries in Tanzania, Uganda, Rwanda and South Sudan contributed just over KES 1.05 Billion. the subsidiary in Tanzania reported a pretax profit of Sh100 million, South Sudan Sh800 million, Uganda Sh100 million and Rwanda Sh200 million.

Earnings per Share rose 34.78% to 3.72 shillings from 2.76 previously, and the share price has rallied 36.212% since Dec 1st 2011

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