The NCBA Group has once again made waves by announcing a noteworthy after-tax profit of Sh14.6 billion for the nine months ending in September. This represents a robust 14.4% increase from the previous year’s report, which stood at Sh12.8 billion during the identical period.

The NCBA Group’s financial stability instills confidence in customers, a sentiment that speaks volumes through their substantial deposits. Indeed, this is one of the pivotal factors driving its stellar performance. The noteworthy growth in customer deposits closed at an impressive Sh548 billion, marking a striking 19% increase from the previous year.

Evidently, the Group has focused on digital lending, a strategy exemplified by its disbursal of Sh695 billion in such loans—an impressive 33% increase year-on-year. This substantial investment not only underscores the institution’s adaptability to an evolving financial landscape but also capitalizes on society’s growing reliance on digital financial services.

The reduction in loan loss provision by 27%, ultimately reaching a figure of Sh6.1 billion, represents an impressive feat. It reflects the Group’s strategic risk-management approach—one that diligently maintains equilibrium between bold lending and prudent financial practices.

Attributing this growth trajectory to positive operating income and a significant decline in loan impairment charges, the NCBA Group solidifies its position as a tier 1 lender with assets that have expanded to Sh679 billion, notably representing a robust 14% increase year-on-year.

Including regional subsidiaries in Tanzania, Rwanda, and Uganda significantly contributed to the Group’s success. These subsidiaries generated a pre-tax profit of Sh2.3 billion, marking an impressive turnaround from reporting a loss of Sh312 million during the corresponding period last year.

The NCBA Group strategizes branch expansion as a means to bolster customer accessibility—an integral objective. The recent inclusion of additional locations in Muranga, Kenol, Chwele, Migori, Kahawa Sukari, Eastleigh, Wote, and Ruaka amplified their total branch network to 107, reaffirming the institution’s determination to broaden its audience reach.

With a 34% market share, NCBA demonstrates its continued focus on corporate customers, innovative solutions, and robust dealer partnerships in asset finance. The company reaffirms its position as a market leader by consistently meeting businesses’ diverse financial needs.

The Group looks ahead with an intention: to acquire 100% of AIG Kenya Insurance Company Limited. This strategic move addresses its customer base’s evolving financial needs, subject to regulatory approvals. This action aligns perfectly with its vision of becoming a universal bank that comprehensively caters to all its clients’ diverse fiscal demands.