Kenya | NSE

Diamond Trust Bank Group posted a modest 5.00% y/y climb in profit after tax (PAT) to KES 6.61Bn over the nine months to September 2023. The trailing EPS momentum however eased 262bps to KES 22.56 over the same period. The rise in PAT was supported by a faster surge in non-funded income (33.92% y/y) compared to funded income (19.57% y/y). The trailing returns on equity (ROE) climbed 197bps y/y to 10.02% while the trailing returns on assets (ROA) climbed 11bps y/y to 1.29%. The group’s net interest margin (NIM) widened marginally to 5.20% even as the profitability margin edged down 403bps y/y to 22.57%.

NCBA Group posted an impressive 14.39% y/y jump in net earnings (PAT) to KES 14.65Bn over the nine months to September 2023. The trailing earnings per share (EPS) momentum similarly improved 173bps to KES 9.48 over the quarter. Profitability growth momentum was however tempered by a faster growth in pre-provision operating expenses (18.95% y/y), relative to the rise in operating incomes (11.65% y/y). The trailing return on Equity (ROE) nevertheless improved 20bps q/q to 18.44% while the trailing return on assets (ROA) rose 10bps q/q to 2.50%.

KCB Group posted a marginal 41bps y/y climb in after-tax profits (PAT) to KES 30.72Bn in the nine months to September 2023. The trailing earnings per share (EPS) momentum however improved 998bps to KES 12.75 over the quarter. Profitability was compressed by a faster surge in operating costs (57.00% y/y), relative to the uptick in operating incomes (27.30% y/y). The trailing Returns on Equity (ROE) improved 110bps q/q to 20.15% while the trailing returns on assets (ROA) flatlined q/q at 2.40%.

ABSA Group released their Q3’23 net earnings results posting a 14.86% and climb in PAT to KES 12.31Bn. The trailing EPS however eased 250bps to KES 2.98 per share over the quarter. Performance was driven by a 25.99% surge in net interest income and a 6.41% increase in non-interest income. Trailing ROaE and ROaA improved to 25.77% and 3.28% respectively in Q3’23. The group’s net interest margin (NIM) trimmed 11bps q/q to 8.40% while profit margin edged down by 29bps to 30.71%.

SCBK posted a 11.77% y/y climb in after-tax profits (PAT) to KES 9.74Bn in the nine months to September 2023. The trailing earnings per share (TEPS) momentum however eased 350bps to KES 34.71 over the quarter. Performance in the quarter was supported by a faster rise in funded income (34.5% y/y) relative to growth in operating expenses (28.41% y/y). The trailing Returns on Equity (ROE) climbed 183bps y/y to 22.65% while the trailing retiurns on assets (ROA) rose 28bps y/y to 3.56%.

Equity Group posted a mild 5.32% y/y increase in profit after tax (PAT) to KES 36.20Bn by close of Q3’23. However, the trailing earnings per share (T-EPS) momentum declined 105bps to KES 12.23 over the quarter. The lender’s bottom-line growth was driven by a 21.32% y/y increase in funded income to KES 72.6Bn and a 36.90% y/y increase in non-funded income to KES 57.8Bn. On the flipside, the strong revenue growth was watered down by a 46.35% y/y surge in operating expenses. The trailing ROaE and ROaA decelerated to 25.1% and 3.1% respectively in Q3’23. The Group’s net interest margin widened 20bps y/y to 7.1% while the profit margin edged down y/y to 27.76%.