• Home
  • Business
  • NCBA Group Half Year Profit rises to Ksh 7.8 Billion

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

Jumo appoints fintech expert Bradwin Roper as Chief of Payments Partnerships and Executive Committee Member

Jumo, a technology company building next-generation mobile financial services for emerging market entrepreneurs, has announced the appointment of…

Oluyemi Oloyede MD/CEO at UAC Foods emerges InstinctBusiness CEO of the week

InstinctBusiness Magazine has named the Managing Director and Chief Executive Officer of UAC Foods, Oluyemi Oloyede as the…

Kenya: Copia to Lay Off Over 1,000 Employees

A memo dated May 16th from the e-commerce platform Copia Kenya to all its employees has disclosed the…

Ghana: Telecel CEO advocates for collaborative efforts and investment in digital public infrastructure

Chief Executive of Telecel Ghana, Ing. Patricia Obo-Nai, has issued a strong appeal for enhanced multilateral partnerships and…