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NCBA Group, the financial services giant backed by some of Kenya’s richest families, reported a double-digit growth in net profit, reaching $85.8 million for the first half of 2025, up from less than $80 million a year earlier. This was driven by stronger interest income, even as customer deposits and total assets declined.
NCBA posts modest profit growth amid loan book pressure
According to the group’s recently published financial results, NCBA reported a 12.6 percent rise in net profit to Ksh11.1 billion ($85.78 million) for the first half of 2025, up from Ksh9.8 billion ($75.74 million) a year earlier.
The bank’s net interest income climbed 26.7 percent to Ksh20.9 billion ($161.6 million), fueled by higher lending and investments in government securities. Non-interest income slipped 2.9 percent to Ksh14.5 billion ($112.12 million), weighed down by weaker foreign exchange trading.
Operating expenses rose 13.5 percent to Ksh21.8 billion ($168.62 million), while provisions for credit losses increased 19.1 percent to Ksh3.2 billion ($24.75 million), reflecting the bank’s cautious approach to risk.
Regional contributions and expansion
Kenya contributed 81 percent of pre-tax profit, while regional subsidiaries added Ksh1.8 billion ($13.92 million). Non-banking units, including NCBA Investment Bank and NCBA Insurance, delivered Ksh804 million ($6.22 million), a 40 percent increase. The group now operates 122 branches across East Africa, surpassing 100 in Kenya alone, and retained its leadership in asset finance with a 31 percent market share.
NCBA also advanced its sustainability agenda, mobilizing Ksh9.5 billion in green financing, planting nearly 400,000 trees, and supporting over 9,200 jobs through community initiatives. Capital adequacy stood at 22.4 percent, well above regulatory requirements, and the board declared an interim dividend of Ksh2.50 per share.
NCBA Group: a regional financial player
Headquartered in Nairobi, NCBA Group is a non-operating holding company with subsidiaries in Tanzania, Rwanda, Uganda, and Côte d’Ivoire. Formed in 2019 through the merger of NIC Bank and Commercial Bank of Africa, NCBA has established itself as a key player in East Africa’s financial sector.
Partially owned by prominent Kenyan families including Kenyatta, Merali, and Ndegwa, NCBA continues to strengthen its operations in Kenya while expanding across the region. Its total assets fell 3.8 percent to Ksh663 billion ($5.13 billion), while shareholders’ equity rose 16.8 percent to Ksh118 billion ($912.79 million), driven by higher retained earnings.
