Nairobi, May 26 -- KCB Group has disclosed an additional Sh1.2 billion equity investment in the Ugandan unit during the financial year ended December 2022 as it moved to strengthen its subsidiaries.

The equity investment, disclosed in the latest KCB annual report, pushed the value of investment in KCB Bank Uganda to Sh4.34 billion from Sh3.14 billion in the previous year.

The investment in Uganda added to the Sh25.11 billion that KCB spent during the year on acquiring an 85 percent stake in DRC lender, Trust Merchant Bank (TMB).

The two transactions marked KCB's continued focus on growing its business outside Kenya.

KCB Bank Uganda's net profit grew from Sh270 million in 2021 to Sh1.04 billion last year on increased interest and non-i...