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NCBA Group has reported a net profit of Sh6 billion for the first quarter of 2026, representing a 9 percent increase compared to Sh5.5 billion recorded in the same period last year.
The lender said the improved performance was driven by higher operating income, growth in customer deposits, and expansion in its digital lending business, even as provisions for bad loans rose sharply.
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Profit before tax increased to Sh7.4 billion from Sh6.8 billion, while operating income grew by 15 percent to Sh20 billion.
Customer deposits rose by 10 percent to Sh544 billion, with total assets also expanding to Sh741 billion.
However, the bank set aside more funds for potential credit losses, which jumped by 56 percent to Sh2.5 billion, as it adopted a more cautious stance in a challenging economic environment.
NCBA Group Managing Director John Gachora said the results reflected a strong start to the group’s new strategy focused on strengthening core operations, expanding high-growth segments, and diversifying revenue streams.
“Our capital position remained robust, with a total capital adequacy ratio of 21.8 percent, well above the regulatory minimum,” Gachora said.
NCBA Bank Kenya remained the biggest contributor to group earnings, posting a 20 percent rise in profit before tax to Sh6.5 billion.
Regional subsidiaries in Uganda, Tanzania, and Rwanda recorded a combined profit before tax of Sh707 million, while non-banking units such as investment banking, insurance, and leasing contributed Sh641 million.
The group said its digital lending segment continued to expand, with disbursements rising by 27 percent to Sh391 billion during the quarter.
NCBA also reported strong growth in its asset finance portfolio, where it holds a 32 percent market share, while its digital car marketplace, CarDuka, attracted nearly seven million users.
The bank noted that 98 percent of all customer transactions are now processed through digital channels.
On sustainable finance, NCBA said it supported the Kenya Mortgage Refinance Company (KMRC) green bond that raised Sh3 billion and participated in the Sh4.8 billion Two Rivers green REIT transaction.
Looking ahead, Gachora said discussions on the proposed transaction with South Africa’s Nedbank Group were progressing as planned.
He added that the bank is monitoring global geopolitical tensions, particularly in the Middle East, though no significant impact has been felt so far.
