NCBA GROUP PLC PROFIT AFTER TAX RISES TO KES 5.5 BILLION IN Q1 2025 RESULTS

NCBA Group PLC has posted a profit after tax of KES 5.5 billion in its Q1 2025 financial results which is a 3.0 per cent increase compared to KES 5.3 billion reported during a similar period in 2024.  

Commenting on the results, NCBA Group Managing Director, John Gachora remarked, “Despite the headwinds of 2025, we are pleased to present these positive results in the first quarter of 2025. The profitability performance demonstrates underlying resilience in our core income streams, while strong recovery efforts improved our asset quality. The contraction in customer deposits and assets was driven by strategic initiatives focused on optimizing funding costs and enhancing asset allocation efficiency.”

NCBA Group`s business diversification played a pivotal role where NCBA Bank Kenya remained a key driver contributing 79 per cent of the Group’s KES 6.8 billion profit before tax. The Regional Banking subsidiaries delivered profit before tax of KES 1.1billion, contributing a solid 16 per cent to the Group`s overall profitability and underscoring their growing strategic importance. The Non-Banking subsidiaries delivered a consolidated positive profit of KES 328 million, contributing 5 per cent to Group profitability.

During the quarter, NCBA completed the integration of the recently acquired AIG (Kenya) Insurance Company when it unveiled a new brand identity for the now NCBA Insurance subsidiary, reinforcing its commitment to seize share in Kenya’s sizeable insurance industry valued at KES 309 billion. The re-brand will ensure more competitiveness with amplified positioning in the market as a trusted insurance solutions partner.

In line with the Group’s Retail Banking expansion strategy, NCBA reached the 100 Branch mark in Kenya with the official launch of Tatu City branch and the opening of its newest branch at the Nord Mall, Ruiru. Additionally, the new Nyagatare Agency branch in Rwanda brings the Group`s total branch network across the region to 121.

Key Highlights

• Digital Loans disbursed were KES 307 billion, 32 per cent up year on year.
• Profit after tax of KES 5.5 billion, 3.0 per cent up year on year.
• Profit before tax of KES 6.8 billion, 4.5 per cent up year on year.
• Operating income of KES 17.3 billion,8 per cent up year on year.
• Operating expenses of KES 8.9 billion,9 per cent up year on year.
• Provision for credit losses was KES 1.6 billion, 20.3 per cent up year on year.
• Customer deposits closed at KES 496 billion, 9.5 per cent down year on year.
• Total Assets closed at KES 656 billion, 5.6 per cent down year on year.