NCBA Group has recorded a net profit increase of 5 percent to Kes9.8 billion in the six months to June this year compared to the Kes9.4 billion recorded during the same period last year.
The lender attributed the growth to enhancing customer experience and operational efficiency.
“Our diversified business model has shown resilience against a tight interest rate environment and elevated cost of funds,” NCBA’s Managing Director (MD) John Gachora said.
Similarly, the group’s banking division recorded a flat year-on-year profit before tax of Kes 11.7 billion in the period under review.
Non-banking subsidiaries, including investment banking, bancassurance, and leasing, contributed an additional Kes 600 million, reflecting a 56 percent increase in profitability and highlighting its diverse revenue streams.
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Further, the lender made strides in financial inclusion, disbursing Kes 478 billion in digital loans and enhancing digital platform services.
On the flip side, its operating expenses surged by 15.5 percent to Kes16.5 billion.
