NCBA Group Half Year Profit rises to Ksh 7.8 Billion
NCBA Group has declared a Sh7.8billion half-year profit, a 66 per cent growth from Sh4.7billion in the same period in 2021.
The growth was attributed to rising income, with total operating income up by more than 20 per cent at Sh29 billion.
The lender’s total assets also grew by 11.8 per cent to Sh604.3billion
Net interest income increased to Sh14.8 billion as the lender’s loan book grew 4.5 per cent to Sh250.5 billion.
Non-interest funded income (NFI) grew by 32.7 per cent to hit Sh14.2 billion, supported largely by foreign exchange trading income which more than doubled to Sh5.3 billion from Sh2.4 billion.
The lender’s total operating expenses increased slightly to Sh17.1 billion from Sh16.3 billion as loan-loss provisions fell by 5.1 per cent to Sh5.6 billion.
Further, NCBA’s loan book quality improved, with gross non-performing loans falling to Sh36.9billion from Sh45 billion in June of 2021.
The Group’s board is expected to pay a combined Sh3.3 billion to shareholders translating to a dividend per share of Sh2 for the period.
Related Posts
Zadara AI Sovereign Cloud launches in Kenya, improving digital transformation
In a significant step toward advancing Kenya’s digital landscape, iXAfrica Data Centres, East Africa’s premier hyperscale, AI-ready data…
ByAbzena appoints Geoffrey Glass as CEO
Abzena, a leading end-to-end integrated contract development and manufacturing organization (CDMO) and contract research organization (CRO) specializing in…
Muhumuza champions open contracting for sustainable procurement at Africa Summit
Edwin Muhumuza, Head of Africa at the Open Contracting Partnership, championed open contracting as a critical driver for…
EnergyInc Advisors to propel Africa’s energy & infrastructure dev’t
EnergyInc Advisors, a new Africa-focused strategic advisory firm, has officially launched, poised to transform the landscape of energy,…
Genesis Energy,Desert Tech. announce clean energy alliance
Genesis Energy Holding, a Pan-African leader in clean energy infrastructure, and Desert Technologies Industries Factory CJSC, a Saudi-based…
Mouka reaffirms raw material leadership in Africa
Mouka, Nigeria’s leading manufacturer of quality sleep solutions and a proud member of the Dolidol International group, has…
Agboola advocates stronger cross-border infrastructure
Flutterwave CEO and Founder, Olugbenga “GB” Agboola , has called for accelerated investment in Africa’s cross-border payment infrastructure…
Munga increases stake in Equity Group by over $1.2m
Equity Group founder, Peter Munga, has made a strong return to the lender’s shareholder register, purchasing 3.64 million…
Nigerian Breweries gains N383bn revenue in Q1 2025
Nigerian Breweries Plc (NB) has posted a strong financial turnaround, recording a 69 per cent increase in net…
Gallery
