NCBA Group PLC posted a net profit of KES 6.0 billion for the first quarter ended March 2026, marking a 9 per cent increase from the KES 5.5 billion recorded during the same period last year.
The lender attributed the growth to strong operating income, improved revenue diversification, and continued resilience across its core business segments despite a challenging operating environment.
The Group’s operating income rose 15 per cent year-on-year to KES 20.0 billion, while profit before tax increased by 9 per cent to KES 7.4 billion. Operating expenses climbed 9 per cent to KES 9.7 billion.
However, provisions for credit losses surged 56 per cent to KES 2.5 billion as the bank adopted what it described as a prudent approach to credit risk assessment amid heightened market volatility.
Customer deposits grew 10 per cent to KES 544 billion, while total assets expanded 13 per cent to KES 741 billion during the review period. Digital loan disbursements also increased by 27 per cent to KES 391 billion.
NCBA Group Managing Director John Gachora said the results reflected a strong start to the lender’s new strategy anchored on strengthening its core business, scaling high-growth segments, unlocking new growth opportunities, and building a future-ready culture.
“The Group delivered strong topline momentum, with operating income increasing by 15 per cent year-on-year, reflecting sustained business growth, improved revenue diversification and continued resilience across core operating segments,” Gachora said.
He added that the Group maintained a strong capital position, with a total capital adequacy ratio of 21.8 per cent, above the regulatory minimum of 14.5 per cent. Return on average equity remained stable at 18.4 per cent.
NCBA Bank Kenya remained the Group’s largest profit contributor, recording a 20 per cent increase in profit before tax to KES 6.5 billion. Regional subsidiaries in Uganda, Tanzania, and Rwanda posted a combined profit before tax of KES 707 million.
Non-banking subsidiaries, including NCBA Investment Bank, NCBA Insurance, Leasing and Bancassurance businesses, collectively generated KES 641 million in profit before tax.
The investment banking unit reported assets under management of KES 101.5 billion, with wealth management customers surpassing 60,000. Meanwhile, the Group’s insurance businesses grew combined gross written premiums to KES 5.0 billion.
On digital transformation, NCBA said 98 per cent of all customer transactions are now processed digitally. The lender also noted that its digital vehicle trading platform, CarDuka, has onboarded close to seven million users.
The bank further highlighted ongoing investments in cybersecurity, customer relationship management systems, and AI-powered onboarding, credit, and claims processing systems, which helped improve service uptime to 99.74 per cent.
In community and sustainability initiatives, the Group said it impacted more than 200,000 livelihoods through scholarship programmes, tree-planting initiatives, sports sponsorships, and youth empowerment projects. NCBA also participated in green financing initiatives, including arranging the KES 3 billion KMRC green bond and supporting the KES 4.8 billion Two Rivers International Finance and Innovation Centre Green REIT.
Looking ahead, Gachora said the proposed transaction with Nedbank Group was progressing according to plan.
He added that the bank had not experienced any material impact from the evolving geopolitical tensions in the Middle East but continued to monitor potential effects on markets, liquidity, inflation, and broader macroeconomic conditions.
