NCBA Group nets Ksh 9.3B in profits in first half of the year

NCBA Group has disclosed that its profit after tax during the first six months of this year to June has increased 20.3pc to stand at Ksh 9.3 billion.

The profit increase from Ksh 7.8 billion reported over the same period last year was driven by arise in operating income which grew 7pc to Ksh 31 billion and reduce loan impairment charges which eased 21pc Ksh 4.4 billion.

“These strong operating results are attributable to consistent focus on our strategic priorities,” said John Gachora, NCBA Group Managing Director.

During the period under review, the lender’s loan book surged 35pc year-on-year to stand at Ksh 457 billion while customer deposits rose 10pc to reach Ksh 517 billion.

Similarly, NCBA Group registered a 9pc increase in total assets which stood at Ksh 660 billion by the end of the first half of the year.