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Integrated Report 2020

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Integrated Report 2020 About this report he KCB Group Plc Integrated Report and Financial Statement 2020 is our statutory and regulatory reporting disclosure. It comprises information about Tactivities, strategy, approach to operating responsibly, financial, and non- financial results for the period of January 1, 2020 to December 31, 2020. The aim is to comprehensively report to our existing and prospective investors in an integrated way to reflect how the organisation operates. Framework The report has been prepared in compliance with global best practice and prudent accounting frameworks. It is aligned to the provisions of the Companies Act, 2015, Capital Markets Authority (CMA) guidelines, the Nairobi Securities Exchange (NSE) Listings Manual, and Central Bank of Kenya (CBK) Prudential Guidelines. This report is also in compliance with the International Integrated Reporting Council (IIRC) guidelines. The Group’s Annual Financial Statements were prepared in accordance with the International Financial Reporting Standards (IFRS). The report is part of our commitment to be transparent and accountable to our stakeholders. The Group constantly considers whether there are additional reporting frameworks or metrics we could use to enhance our disclosures. Assurance The Annual Financial Statements for the Group, KCB Bank Kenya, National Bank of Kenya, KCB Bank Tanzania and KCB Bank South Sudan were audited by PricewaterhouseCoopers. KCB Bank Burundi and KCB Bank Rwanda were audited by KPMG, while KCB Bank Uganda was audited by EY. INTEGRATED REPORT & FINANCIAL STATEMENTS Contents Overview Overview ...................................................................................................................4 Group Perfomance Highlights .....................................................................................5 Digital Channel Performance .....................................................................................6 Our 2020 Milestones .................................................................................................8 2020 - 2023 Strategy ...............................................................................................10 Our Value Creation Process ......................................................................................12 Our Capitals .............................................................................................................14 COVID-19 Related Initiatives ...................................................................................18 Operating Environment .............................................................................................20 Reinforcing Our Market Capabilities .........................................................................27 Who Governs Us Group Chairman’s Statement ....................................................................................28 Taarifa ya Mwenyekiti ..............................................................................................30 Group Board of Directors ..........................................................................................32 Group CEO & MD’s letter to Shareholders ...............................................................34 Barua ya Afisa Mkuu Mtendaji wa Kundi na Mkurugenzi Mkuu .................................38 Executive Committee ...............................................................................................42 Report from the Group CFO ......................................................................................44 Value Added Statement............................................................................................46 Five Year Review ......................................................................................................47 A Review of Our Strategic Themes .............................................48 Our Sustainability Agenda ........................................................................................56 KCB Foundation .......................................................................................................58 Corporate Governance Statement ..............................................62 Shareholding ...........................................................................................................83 Board of Directors’ Profiles ......................................................................................84 Financial Statements & Notes ...................................................88 To ensure that we report on issues that matter to our stakeholders please provide any feedback and questions to: [email protected] or visit www.kcbgroup.com KCB strongly recommends adherence to COVID-19 safety guidelines. All laid out Government regulations and health precautions were adhered to during the making of this report. INTEGRATED REPORT & FINANCIAL STATEMENTS 3 Overview CB Group is East Africa’s largest financial solutions provider services with a 24-hour contact center for our 25.2 million customers. with operations in Kenya, Tanzania, South Sudan, Uganda, The Group also has a wide network of correspondent relationships KRwanda, Burundi and Ethiopia (representative office). The Group of over 200 banks across the world, thereby assuring our customers was established in 1896 and is headquartered in Nairobi, Kenya. of a seamless facilitation of their international trade requirements For over a century, the Group has been a catalyst for development, wherever they are. enabling growth and economic progress, supporting regional trade, KCB Group shares are quoted at the Nairobi Securities Exchange and connecting millions of people across the world to opportunities (NSE), Dar-es-Salaam Stock Exchange (DSE), Uganda Securities on the African continent and beyond, whilst making positive social Exchange (USE), and Rwanda Stock Exchange (RSE). impact in the communities. Our focus remains on areas where we believe we can make a KCB Group Plc is a registered non-operating holding company significant difference in fulfilling customers’ ambitions and driving that oversees KCB Bank Kenya and all the regional subsidiaries. It financial inclusion while supporting businesses to grow. We provide also owns National Bank of Kenya (NBK)— acquired in 2019— KCB a broad range of financial products and services in retail banking, Insurance Agency, KCB Capital, KCB Foundation and other associate corporate banking, investment banking and insurance. The Bank also companies. At the time of publishing this report, the Group was in the offers digital financial services and Shariah-compliant products. process of acquiring additional banking businesses. KCB has over the years continually invested in deepening its Today, the Group has the largest branch network in the region with sustainability agenda that is anchored on building a 359 branches, 1,104 ATMs, 23,460 point of sale (PoS)/merchants responsible business for the future with special focus on and agents offering banking services on a 24/7 basis. This is environmental, social, financial and economic pillars. complemented by mobile banking and internet banking Our Regional Presence KCB Bank Kenya KCB Bank KCB Bank KCB Bank KCB Bank KCB Bank Ethiopia National Bank of Kenya Tanzania South Sudan Uganda Rwanda Burundi (Representative Office) KCB Insurance Agency KCB Foundation KCB Capital 359 KShs. Branches 25.2m 142,424,283,000 1,104 ATMs | Customers 23,460 Agents & 7,525 Staff Total Equity POS / Merchants 4 INTEGRATED REPORT & FINANCIAL STATEMENTS OVERVIEW Group Performance Highlights Financial Non-Financial Profit Before Income Tax (KShs. Million) Net Promoter Score 2020 2019 2020 2019 25,719 36,897 52 42 Net Loans and Non Performing Loans Customer Total Employee Advances (KShs. Million) (KShs. Million) Complaints Benefits (KShs. M) 2020 2020 2020 2020 595,255 96,613 836,968 20,511 2019 2019 2019 2019 539,747 66,201 980,443 19,459 Customer Deposits Dividends Reduction in Greenhouse Reams of (KShs. Million) (KShs. Million) Gas emissions paper used 2020 2020 2020 2020 767,224 3,213 23% 53,557 2019 2019 2019 2019 686,583 11,099 7% 58,611 Total debt / Total Market Capitalization Water use Electricity equity (KShs. Million) Consumption at 2020 2020 2020 Kencom Head Office (Million Kw\h) 26.0% 122,433 147M litres 2019 2019 2019 2020 2019 16.6% 173,527 142M litres 3.09 3.26 Return on Average Cost to Income Ratio Female/Male Number of staff Equity Ratio health and safety 2020 2020 incidences 2020 (in the work place) 14.4% 45.4% 45:55 2019 2019 2019 2020 2019 20.7% 45.9% 44:56 3 4 INTEGRATED REPORT & FINANCIAL STATEMENTS 5 OVERVIEW Digital Channel Performance 138B 8.19M 117B 7.13M Total Mobile 108B 6.35M Transactions 92B 5.48M 93B 5.76M KShs. 1.1 Trillion facilitated by KCB via mobile in 2020 underpinning the continued growth in 79B 4.31M preference for the channel for transactions during the COVID-19 period. 69B 4.68M 60B 4.26M KEY 46B 3.31M Value (KShs.) 49B 3.11M Number 43B 1.92M 35B 2.15M Month-on-Month Evolution of Customer to Business Transactions Volumes of customer to business transactions grew fourfold YoY driven 83B by the shift to digital transactions and fee waivers during the pandemic. 72B 2.53M KEY 64B 2.28M Value (KShs.) Number 54B 52B 2.12M 47B 1.84M 35B 1.74M 28B 1.58M 17B 1.27M 5B 8B 1.06M 6B 0.75M 0.50M 0.57M 0.51M JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Non-Branch 2018 2019 2020 Transactions 88% 97% 98% Volume of non-branch transactions surged by 55% to KShs. 1.8 trillion. 6 INTEGRATED REPORT & FINANCIAL STATEMENTS OVERVIEW
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