Kenya’s Biggest Bank Profit Jumps 66% as Interest Income Rises

KCB Group Plc’s full-year profit jumped 66%, the fastest growth in three years, as efforts by Kenya’s biggest lender to increase lending paid off.

Net income rose to 60.1 billion shillings ($464.9 million) in the year through Dec. 31, the Nairobi-based lender with operations in seven nations said in its earnings release Wednesday. Net interest income grew by 28% while that from other sources such as trading and fees and commissions climbed by a more modest 17%.