NCBA has posted a 12.6% increase in net profit to KSh 11.1 billion for the half year. This up from KSh 9.8 billion that was posted in a similar period last year.
The rise in profitability was on the back of a 26.7% rise in net interest income to KSh 20.9 billion. This was boosted by stronger lending and government securities returns while non-interest income fell 2.9% to Sh14.5 billion as forex trading weakened. Digital lending remained a growth engine, with KSh 646 billion in disbursements, up 35% year-on-year.
On the other hand, operating expenses rose by 13.5% to Sh21.8 billion, while provisions for credit losses increased 19.1% to KSh 3.2 billion.
During the period, customer deposits slipped 6% year-on-year to KSh497 billion, while total assets declined by 3.8% to KSh 663 billion. However, shareholders’ equity rose 16.8% to KSh 118 billion, supported by higher retained earnings. Gross non-performing loans fell 18.6% to KSh 38.1 billion, improving asset quality.
The Kenyan subsidiary contributed 81% of group profit before tax (PBT), while regional subsidiaries posted KSh 1.8 billion PBT, contributing 13.6%. Non-banking arms, including NCBA Investment Bank and NCBA Insurance, delivered a combined KSh 804 million PBT, up 40% year-on-year.
The group expanded to 122 branches across the region, surpassing 100 in Kenya, and grew its customer base to 70 million. Asset finance leadership was maintained with a 31% market share, supported by upgrades to its CarDuka platform. Corporate clients adopted the revamped ConnectPlus platform, now used by over 90% of active users.
NCBA mobilized Sh9.5 billion in green financing, planting 396,459 trees, and creating over 9,200 jobs through community partnerships. The group also reported capital adequacy at 22.4%, far above regulatory requirements, and declared an interim dividend of Sh2.50 per share.