In Week,11 of 52 (2026), Kenya’s tier 1 lenders listed at the Nairobi Securities Exchange (NSE) KCB Group and Stanbic Holdings released their set of FY 2025 financial results. KCB Group reported a 10.6% year-on-year growth in after-tax profit to KES 68.4 billion, primarily driven by a 4.3% growth in operating income to KES 213.8 billion, alongside a 0.02% decline in total operating expenses to KES 122.9 billion. The lender’s Gross Non-performing loans declined by 6.1% to KES 211.8 billion, reflecting improved asset quality.
KCB Group’s Board of Directors declared a final dividend of KES 3.00 per ordinary share including a special dividend of KES 2.00 per ordinary share. Combined with an interim payout of KES 4.00 – that included a special dividend of KES 2.00 per ordinary share. the total dividend stood at KES 7.00, up 133.3% from KES 3.00 in FY2024.
Meanwhile, Stanbic Bank Kenya net earnings remained largely flat compared to the previous year. Profit after tax rose marginally by 0.02% to KES 13.7 billion. Operating income declined by 3.1% to KES 38.5 billion, driven by a 1% decline in net interest income to KES 24.1 billion, following a 225-bps cut in the Central Bank Rate (CBR) during the review period. Non-interest income fell 6.4% to KES 14.4 billion attributed to a 200-bps decline in Foreign Exchange margins.
Despite muted earnings growth, the bank maintained a generous dividend payout. Stanbic’s Board of Directors declared a final dividend of KES 18.55 per share. Combined with an interim dividend of KES 3.80, the total dividend rose to KES 22.35, up 7.8% year-on-year.
With KCB Group and Stanbic Holdings FY 2025 results out, this brings the number of banks listed at the NSE that have released their set of FY 2025 results to 3, including Absa Bank Kenya, which released its set of results in Week 10 of 52 (2026).
Mergers, Acquisitions and Exits of NSE-Listed Firms
Aga Khan Fund for Economic Development (AKFED) agreed to sell its 100% stake in NPRT Holdings Africa Ltd to Taarifa Ltd, ending a 66 year of ownership of NMG. NPRT holds 54.08% controlling stake in NMG equivalent to 92.62 million shares. Taarifa will become the new majority shareholder of NMG while the remaining shares will continue to be listed at the NSE.
Centum Investment also completed the sale of its entire stake in Bakki Holdco Ltd, the holding vehicle of its 27.2% interest in Sidian Bank Limited. The sale followed regulatory approval from the CBK and the Competition Authority of Kenya (CAK).
New NSE Listings Push Market Cap Past KES 3.5T
The exchange also welcomed two new listings. The Kenya Pipeline Company (KPC) joined the bourse after a successful Initial Public Offering (IPO) that recorded a subscription rate of 105.7%. KPC closed the week at KES 9.08, up 0.9% from the offer price with a market capitalization of KES 165 billion, pushing the overall market cap at the Exchange past the KES 3.5T mark.
Africa Logistics Properties Industrial REIT was also listed, becoming the first USD-dominated listed security and the first industrial REIT focused on logistics infrastructure in East Africa.
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