After the purchase of a majority interest in the Trust Merchant Bank (TMB) of the Democratic Republic of the Congo and new employment across other entities, KCB Group increased the number of personnel on its payroll by 2,560 last year.
Also, 720 new personnel were engaged by KCB Group for its Kenyan operations, while 52 and 20 more people were employed by its subsidiaries in South Sudan and Rwanda, respectively.
With the addition of 10, 6, and 3 employees in Tanzania, Uganda, and Burundi, respectively, KCB Group’s status as the largest employer among Kenyan lenders was further cemented.
The bank’s staff costs increased 22.4 percent during the review period to Sh30.26 billion from Sh24.73 billion a year earlier due to the growth in the number of workers. The increase in employment costs caused the bank’s operating costs to increase from Sh60.82.