NCBA Group Achieves a Milestone in Digital Lending

NCBA Group has delivered resilient financial results for FY 2024 with profit after tax reaching KES 21.9 billion, a modest 2.0% increase year-on-year, while crossing KES 1 trillion threshold in digital loan disbursements-representing a robust 23% growth.

Despite challenging market conditions reflected in a 13.4% decline in customer deposits to KES 502 billion and a 9.3% reduction in assets to KES 666 billion, the Group maintained disciplined credit management with an 11.2% non performing loan ratio and 60% impairment coverage.

This performance enabled NCBA to declare a final dividend of KES 3.25 per share, bringing the total 2024 dividend to KES 5.50, while strategic investments in digital transformation and network expansion drove a 10.6% increase in operating expenses to KES 32.2 billion.

The financial institution’s diversified business model continues to yield substantial results across its subsidiaries, with regional operations in Uganda, Tanzania, and Rwanda contributing a combined KES 3.2 billion-up 7% year-on-year-while non-banking divisions including Investment Banking, Bancassurance, Leasing, and Insurance delivered KES
1.2 billion, representing exceptional 36% growth.

NCBA’s strategic expansion has increased its regional footprint to 119 branches with 10 new locations, complemented by an expanded agency banking partnership with Postbank adding 476 agents and 96 branches nationwide.

Looking forward, Group Managing Director John Gachora emphasized NCBA’s commitment to tightening credit risk management, enhancing recovery efforts, and leveraging digital channels for sustainable growth while maintaining its dominant 35% market share in Asset Finance through innovative product development and strategic dealer partnerships.