NAIROBI, Kenya, Mar 27 – NCBA Group has recommended a final dividend payout of Sh4.75 per share in the full year ending December 2023, as profit after tax grows by 56 percent to Sh21.5 billion.
In its latest financial statement, the bank’s profit improved from Sh13.8 billion during a similar period in 2022.
The group attributes positive results to a 4.5 percent jump in operating income to Sh63.7 billion in the review period.
“Our regional subsidiaries (Tanzania, Rwanda and Uganda) collectively delivered a profit before tax of KES 3.0 billion, a notable improvement from the loss of KES 308 million posted in Full Year 2022,” NCBA Group Managing Director John Gachora said.
A total of 60 million borrowers lent through NCBA’s digital lending platforms, growing borrowing to Sh930 billion, representing a 27.5 percent jump.
“Access to digital credit remained a key focus area to help customers manage their financial well-being,” the lender said.
While customer deposits expanded by 15.3 percent to Sh579 billion, assets grew to Sh735 billion, representing an 18.6 percent increase.
“The Business has sustained growth momentum in line with our five-year strategic plan, which has positively enhanced shareholder value while supporting customers amidst a challenging macro-economic environment,” Gachora added.
