Several banks in Kenya have so far released their 2024 financial results highlighting their performance for the full year.

Below are the profits and dividends announced by some of Kenya’s top banks.

KCB

KCB Group reported a Sh61.8 billion profit after tax for the full year ended December 2024, representing a profit rise of 66.1 percent from the Sh36.1 billion net profit that the bank realized in the same period in 2023.

Total operating income increased by 23.9 percent to stand at Sh204.8 billion from the previous year’s Sh165.2 billion.

At the same time, net interest income increased by 27.9 percent, even as net loans and advances to customers decreased from Sh1.095 trillion in full year 2023 to Sh990.4 billion in full year 2024.

The bank’s subsidiaries continued to record impressive performance, with 31 percent of the total group loans being contributed by subsidiaries and 38.2 percent of the revenue coming from subsidiaries.

Following this performance, the bank announced that shareholders will receive a final dividend of Sh1.50 per share which will be paid in the month of May.

This final dividend will bring the total payout for the year to Sh3 per share. This will amount to a Sh9.6 billion total dividend in the full year 2024.

CO-OP Bank

The Co-operative Bank posted a net profit of Sh25.5 billion for the full year ending December 2024 .

This full year profit after tax represented a growth of 9.8 percent from the Sh23.2 billion net profit that the bank posted in the same period the previous year.

Co-op Bank’s total assets increased by 10.7 percent to stand at Sh743.2 billion from the Sh671.1 billion that was recorded in the same period the previous year.

Total interest income stood at Sh86.2 billion from Sh69 billion that was recorded in the same period the previous year. At the same time, net interest income increased by 13.9 percent to Sh51.5 billion from Sh45.2 billion.

Following the results, the bank announced that it will pay out a total dividend of Sh1.50 per share for the full year 2024.

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Absa

Absa Bank Kenya announced a net profit of Sh20.9 billion for the full year 2024. This was an increase of 27.5 percent from the Sh16.4 billion net profit the lender had realized in the same period the previous 2023 financial year.

Net interest income grew by 15.4 percent to stand at Sh46.2 billion while interest income from loans and advances had come in at Sh53.3 billion up from Sh44.2 billion.

Absa Bank Kenya also announced that its total assets had dipped slightly by 2.6 percent to end the year at Sh506.5 billion compared to the previous year’s Sh519.8 billion.

The bank announced that it will pay shareholders a final dividend at a rate of Sh1.55 per share to bring the total dividend payout for the financial year to Sh1.75 per share.

This dividend, which represents a 13 percent year-on-year growth, will be paid out on or about May 22, 2025. In the 2023 financial year, the bank had paid out a total dividend of Sh1.55 per share dividend.

Stanbic

Stanbic Holdings’ net profit for the year ended December 2024 rose to Sh13.71 billion from Sh12.16 billion posted in the preceding year.

The bank raised its dividend payout by 35.1 percent to Sh8.1 billion after the net profit grew by 12.8 percent to hit the highest level in the lender’s history.

The latest profit growth saw the Stanbic board recommend a raise in total dividend per share to Sh20.74 from Sh15.35.

Standard Chartered

Standard Chartered Bank Kenya reported a 45 percent jump in its full-year profit to Sh20.1 billion for the period ended December 2024.

The bank is set to pay a record dividend of Sh13.9 billion after declaring a dividend of Sh37 per share.

This takes its total dividend payout for the period to Sh45 per share, after paying an interim dividend of Sh8 per share in October last year.