Kenyan lender KCB Group makes $445 million in the 9th month.

Kenyan bank KCB Group’s (KCB.NR) pre-tax earnings for the first nine months of the year rose from 40.59 billion shillings in 2023 to 57.43 billion shillings ($445 million), the company said on Wednesday.

The group also does work in Burundi, Tanzania, the Democratic Republic of the Congo, South Sudan, and Uganda.

KCB Group said in a statement that better rates and more loans helped the group’s net interest income grow by 24%.

There were 17.78 billion shillings in loan loss reserves, up from 15.85 billion shillings this time last year.

In March, KCB Group said it had decided to sell National Bank of Kenya (NBK), one of its subsidiaries, to Access Group (ACCESSCORP.LG) of Nigeria.

KCB Group said on Wednesday that the deal was still waiting for approval from the government.

One dollar is equal to 129,0000 Kenyan shillings.