Kingdom Bank has reported a strong financial performance in the first quarter of 2025. This is underpinned by significant growth in customer lending, revenue diversification and continued investment in service infrastructure. Additionally, the bank has registered a strong total comprehensive income of Kshs. 664.3 million, more than double the Kshs. 284.7 million recorded in the first quarter of 2024.
Sustained balance sheet expansion and robust income growth
Significantly, the lender’s total assets rose to Kshs. 44.99 billion, up from Kshs. 37.8 billion in the first quarter of 2024 – nineteen per cent year-on-year increase. This performance was driven by an impressive growth in customer lending, with net loans and advances climbing by a substantial fifty three per cent to Kshs. 15.9 billion from Kshs. 10.4 billion.
By the same token, its total interest income grew by eleven point four seven per cent to Kshs. 1.14 billion. This was driven by an impressive forty three per cent growth in interest income from loans and advances to Kshs. 491 million, coupled with solid gains from investment in government securities which yielded Kshs. 616 million during the quarter.
Revenue diversification and expansion
Fee and commission income more than doubled to Kshs. 77.7 million in the quarter from Kshs. 32.9 million posted a year ago. This was a remarkable one hundred and thirty six per cent jump, demonstrating the lender’s success in diversifying its income streams beyond traditional lending. This included income from loan-related fees, trade finance and transactional business.
Kingdom Bank continues to survey the market for productive sites to open new service outlets and branches. In this regard, its 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, while another three were opened in 2024.
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.
