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Article: Game to the banker. (Kenya Commercial Bank) (Country Profile: Kenya)
- Article from:
- African Business
- Article date:
- July 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Kenya Commercial Bank has chalked up a record profit but, as B.S. Sekento reports, finding commercial finance in Kenya is still a major problem.
Kenya Commercial Bank has posted pre-tax profit of over Ksh2bn for 1993, up from Ksh803m the previous year - a healthy 153 per cent increase. Bank Chairman, Alexander Kaminchia, says the results represented an all time record for the bank since its inception in 1970.
The bank's profit after tax increased by Ksh1.2bn, up from Ksh478m in 1992. The proposed dividend is Ksh270m compared with Ksh180.5m the previous year. The proposal works out to Ksh5 per share.
Reviewing the year, Mr Kaminchia notes that bank ...