NCBA Group PLC has posted a solid KES 5.5 billion profit after tax for the first quarter of 2025, representing a 3% increase compared to a similar period in 2024. This impressive performance highlights the Group’s resilience in a dynamic macroeconomic environment and its strategic commitment to digital innovation, diversified business operations, and sustainable growth.
Total operating income rose by 8% year-on-year to KES 17.3 billion, while profit before tax climbed 4.5% to reach KES 6.8 billion. The Group’s net interest margin improved significantly to 6.1%, up from 5.0% in Q1 2024, largely due to cost-effective fund management and optimized asset allocation strategies.
“Despite the headwinds of 2025, we are pleased to present these positive results in the first quarter. The profitability performance demonstrates underlying resilience in our core income streams,” said John Gachora, Group Managing Director. “Our strong recovery efforts improved asset quality, while effective cost of funds management and enhanced credit processes enabled us to maintain momentum”.
Strong Digital and Regional Growth
A standout performer was NCBA’s digital lending segment, which disbursed KES 307 billion in loans, up 32% year-on-year. This underscores the Group’s deepening digital footprint and ability to scale its services across key markets efficiently.
NCBA Bank Kenya contributed 79% of the Group’s profit before tax, while the regional subsidiaries, operating in Uganda, Tanzania, Rwanda, and Ivory Coast accounted for 16%, totaling KES 1.1 billion. Non-banking subsidiaries, including the recently rebranded NCBA Insurance, contributed 5% with a combined profit of KES 328 million.
The Group also expanded its regional network, surpassing 100 branches in Kenya with new outlets in Tatu City and Nord Mall, Ruiru. An additional agency was launched in Nyagatare, Rwanda, bringing the total network to 121 locations across East and West Africa.
Driving Financial Access and Customer Experience
To support customers amid rising economic pressures, NCBA reduced its lending rate to 14.34% per annum and maintained a waiver on monthly account maintenance fees. New features were also added to the NCBA NOW app, and ConnectPlus, its corporate and SME digital banking platform, was upgraded to offer faster transactions and broader integration capabilities.
Through platforms like CarDuka, the Group continues to innovate in digital marketplaces, now offering enhanced AI-powered functionality and bundled insurance offerings for its automotive clientele.
Commitment to Sustainability and ESG Impact
NCBA continued to advance its “Change the Story” agenda. In Q1 alone, the Group:
- Planted over 62,000 trees.
- Installed its sixth EV charging station in Uganda.
- Renewed a KES 3 billion facility with African Guarantee Fund.
- Impacted over 271,000 lives and created 3,510 jobs through various social programs.
Its ESG leadership was recognized in several industry awards, including Top 25 Corporations Driving ESG in East Africa, and second place in the Kenya Bankers Association’s Customer Satisfaction Survey for 2024.
Looking ahead, Gachora remains confident despite global uncertainties. “The Kenyan economy continues to demonstrate resilience with the easing of monetary policy which will hopefully translate to improve private sector lending and consumer confidence,” he noted. “NCBA remains steadfast in building a strong future-ready institution anchored on innovation, inclusivity and sustainable growth”
