Kingdom Bank has reported strong financial performance for first quarter of 2025, underpinned by significant growth in customer lending, revenue diversification and continued investment in service infrastructure. The Bank is delighted to report a strong total comprehensive income of Ksh 664.3 million, more than double the Ksh 284.7 million recorded in Q1 2024.
Sustained Balance Sheet Expansion
The Bank’s total assets rose to Ksh 44.99 billion, up from Ksh 37.8 billion in Q1 2024, a commendable 19 per cent year-on-year increase. This growth was driven by an impressive growth in customer lending, with net loans and advances climbing by a substantial 53 per cent to Ksh 15.9 billion from Ksh 10.4 billion.
Robust Income Growth
Total interest income grew by 11.47 per cent to Ksh 1.14 billion driven by an impressive 43 per cent growth in Interest income from loans and advances to Ksh 491 million, coupled with solid gains from investment in government securities which yielded Ksh 616 million during the quarter.
Revenue Diversification Continues
Fee and commission income more than doubled to Ksh 77.7 million in the quarter from Ksh 32.9 million posted a year ago, a remarkable 136 per cent jump, demonstrating the Bank’s success in diversifying its income streams beyond traditional lending. This included income from loan related fees, trade finance and transactional business.
Sustained Expansion in Service Network
The Bank continues to survey the market for productive sites for opening of new service outlets and branches. The newly opened outlets are contributing to the overall performance of the business by way of enhanced customer access to banking services, boosting customer numbers and deposits. A new branch was opened in Machakos in the quarter, with three other branches opened in 2024.
Positive Outlook
With a stronger balance sheet, growing revenue base and ongoing customer acquisition supported by infrastructure expansion, Kingdom Bank is well-positioned to deliver sustainable performance for the rest of 2025.
