The Central Bank of Kenya (CBK) has released the 2022 Bank Supervision Annual Report in line with its mandate of promoting and maintaining the safety, soundness and integrity of Kenya’s banking system.
Although banks continue to operate in a challenging business and operating environment, the sector has proven to be resilient, recording strong 2022 performance with an overall sectoral PBT of KES 240.4 billion which represents a 22% growth.
Kingdom Bank was among the top climbers among the Tier 3 banks having significantly improved its position with regards to profitability and capital and risk weighted assets in the 2022 rankings.
|Performance Metric||2022 Ranking||2021 Ranking||Movement|
|Profitability||18||23||5 positions up|
|Capital and Risk Weighted Assets||29||36||7 positions up|
In the report by CBK, Kingdom Bank grew its Profit Before Tax from Kes 512 million in 2021 to Kes 804 million in 2022 indicating a 57% jump in profit before tax is applied.
For the capital and risk weighted assets, this indicates that Kingdom Bank continues to build its capital buffers which gives both retail and business customers the ability to access higher loans (as guided by the Bank’s credit policies) at competitive rates to the tune of up to Kes 300 million.
Kingdom Bank Kenya was formed after Co-operative Bank of Kenya was approved by the Central Bank of Kenya (CBK) to take over the operations of the former Jamii Jamii Bora Bank.