Trust Merchant Bank (TMB) posted a net profit of 8.53 billion Kenyan shillings in 2025, down from 10.4 billion a year earlier, according to the annual report of Kenya’s KCB Group, which holds an 85% stake in the bank. The 18% decline is equivalent to about $66.1 million at an exchange rate of 129.15 shillings per dollar published by the Central Bank of Kenya on April 10, 2026, compared with $80.5 million in 2024.

In presenting its 2025 results, KCB said the drop in non-interest income was driven in part by lower foreign exchange revenues and commissions, against a backdrop of temporary branch closures in eastern Democratic Republic of Congo. Deteriorating security conditions in the region weighed on the Congolese subsidiary’s profitability.

The decline comes amid a more challenging environment for financial institutions with exposure to conflict-affected areas. In the DRC, SMICO recorded a net loss of 1.289 billion Congolese francs (CDF) in the first half of 2025, while FINCA posted a loss of 139.0 million CDF over the same period. Documents published by both institutions point to a deteriorating operating environment, with key indicators worsening, particularly in insecure areas.

Despite the decline, TMB remains KCB Group’s largest contributing subsidiary outside Kenya. With a profit of 8.53 billion Kenyan shillings, it outpaced BPR Rwanda (3.702 billion) and KCB Tanzania (3.263 billion), underscoring the importance of the Congolese market in the group’s regional operations.

Timothée Manoke