NAIROBI, Kenya, Nov 20 – NCBA Group posted a net profit of Sh6 billion in the first quarter of 2026, marking a nine percent increase from the Sh5.5 billion recorded during a similar period last year.
The lender attributed the growth to higher operating income, increased customer deposits and expansion in digital lending, despite a sharp rise in provisions for bad loans.
Profit before tax rose to Sh7.4 billion from Sh6.8 billion last year, while operating income increased by 15 percent to Sh20 billion.
Customer deposits grew by 10 percent to Sh544 billion, while total assets rose to Sh741 billion.
However, provisions for credit losses jumped by 56 percent to Sh2.5 billion as the bank adopted a more cautious approach amid what it described as a volatile business environment.
NCBA Group Managing Director John Gachora said the results reflected a strong start to the lender’s new strategy focused on strengthening core operations, growing high-potential business segments and expanding new revenue streams.
“Our capital position remained robust, with a total capital adequacy ratio of 21.8 percent, well above the regulatory minimum,” Gachora said.
NCBA Bank Kenya remained the group’s biggest profit contributor, posting a 20 percent rise in profit before tax to Sh6.5 billion.
Regional subsidiaries in Uganda, Tanzania and Rwanda recorded a combined profit before tax of Sh707 million, while non-banking subsidiaries including investment banking, insurance and leasing posted Sh641 million.
The lender said its digital lending business continued to expand, with digital loan disbursements rising by 27 percent to Sh391 billion during the quarter.
NCBA also highlighted growth in its asset finance business, where it controls a 32 percent market share, and said its digital vehicle marketplace CarDuka had attracted nearly seven million users.
The bank added that 98 percent of all customer transactions are now conducted through digital channels.
On sustainability financing, NCBA said it helped arrange the Kenya Mortgage Refinance Company (KMRC) green bond that raised Sh3 billion and also participated in the Sh4.8 billion Two Rivers green REIT transaction.
Looking ahead, Gachora said the proposed transaction with South Africa’s Nedbank Group was progressing as planned.
He added that the bank was closely monitoring the impact of tensions in the Middle East on markets, inflation and liquidity, although no material effects had been experienced so far.
