NCBA Group posted a solid first-half performance, reporting a net profit of KES 12.4 billion, equivalent to about $95 million, representing a 12.2% increase from the same period last year. The bank, which serves the largest customer base in East Africa, credited the growth to rising digital lending, stronger deposit mobilization, and its ongoing push into artificial intelligence, even as the broader economy remained cautious.
Profit before tax rose 14.3% to KES 15.5 billion, while operating income grew 15.1% to KES 40.7 billion. The board approved an interim dividend of KES 3.75 per share, a notable increase from KES 2.50 paid in the corresponding period.
Digital channels continued to drive much of the expansion. Digital loan disbursements grew 26.9% to KES 819 billion, while customer deposits rose 11% to KES 551 billion. Total assets stood at KES 739 billion, up 11.5% from a year earlier. The bank also set aside KES 5.2 billion for credit losses, up from KES 3.2 billion previously, reflecting a more cautious stance amid prevailing economic conditions.
Kenya remained the group’s main profit engine, with the local banking unit delivering a 24.3% rise in profit to KES 13.7 billion. Operations in Uganda, Tanzania, and Rwanda together contributed KES 1.6 billion, while the non-banking businesses — covering investment banking, leasing, insurance, and bancassurance — recorded KES 1.1 billion in profit, marking a 40% increase.
During the period, NCBA spent KES 2.4 billion on technology upgrades to support wider AI adoption and improve platform stability. Mobile banking now accounts for 94% of all transactions, with system availability reaching 99.68%. The group also grew its wealth management assets to KES 101 billion and expanded its SME loan book by 12% to KES 44.7 billion. It continued building its presence in electric vehicle and solar financing, while its CarDuka digital platform facilitated vehicle sales worth KES 1.94 billion.
The proposed transaction with Nedbank remains on track following strong shareholder support in the recent tender offer, with completion now subject to final regulatory approvals. Looking ahead, Chief Executive John Gachora noted that the bank expects further growth opportunities as private sector credit demand expands across Kenya and the wider region.
