Paul Russo, group chief executive of KCB Group Plc, East Africa’s largest lender by assets, received total compensation of Ksh285.3 million ($2.2 million) for the 2025 financial year, a 14% increase from Ksh250.17 million ($1.93 million) a year earlier.

According to KCB Group’s 2025 annual results, Russo’s package included a base salary of Ksh85.92 million ($664,398), a short-term performance incentive of Ksh118.57 million ($916,846) and a long-term incentive award of Ksh39.52 million ($305,622). The remaining amount comprised other employment-related benefits.

The increase came as KCB reported another year of higher earnings, supported by growth in lending income and disciplined cost management across its regional operations.

Profit climbs as lending business grows

The Nairobi-based banking group posted a profit after tax of Ksh68.4 billion ($528.88 million) in 2025, up 11% from Ksh61.8 billion ($477.85 million) a year earlier.

Total revenue rose 4% to Ksh214 billion ($1.65 billion) from Ksh204 billion ($1.58 billion) in 2024, helped by stronger net interest income as the lender expanded financing to households, businesses and public-sector clients. Non-funded income accounted for 31% of total revenue, reflecting continued investment in digital banking and transaction-based services.

KCB Bank Kenya, the group’s largest subsidiary, remained the biggest earnings contributor, reporting Ksh48.5 billion ($375.3 million) in profit. The bank’s subsidiaries across East Africa also added to the group’s overall performance.

The lender’s balance sheet continued to expand during the year. Total assets increased 9% to Ksh2.15 trillion ($16.62 billion) as of Dec. 31, 2025, from Ksh1.96 trillion ($15.15 billion) a year earlier. Shareholders’ equity climbed to Ksh331.5 billion ($2.56 billion), compared with Ksh274.9 billion ($2.12 billion) at the end of 2024.

Regional lender strengthens its market position

KCB Group operates as a non-operating holding company with businesses spanning commercial banking, insurance, investment banking and asset management. Its network includes seven commercial banks across East Africa, serving more than 34 million customers through 528 branches and an extensive agency network.

The lender is the third most valuable company listed on the Nairobi Securities Exchange, with a market capitalization of about Ksh252 billion ($1.95 billion).

Russo with over 25 years experience

Russo, who became group chief executive in May 2022, also owns about 303,800 KCB Group shares, representing a stake of roughly 0.009%.

Beyond the bank, he chairs the Governing Council of the Kenya Bankers Association, serves as chancellor of Kibabii University and chairs the council of Consolata International University. He is also a member of the United Nations Environment Programme Finance Initiative Leadership Council, which promotes sustainable finance across the global banking industry.

Russo has more than 25 years of work experience. Before becoming KCB Group CEO, he held several senior leadership positions within the lender, including regional business director and human resources director. He also served as managing director of National Bank of Kenya and receiver manager for Chase Bank during its receivership. Earlier in his career, he held roles at Barclays, PwC, K-Rep Bank, East African Breweries Plc and Unga Holdings.