NCBA full year profit up 114% to Ksh.10.2 billion
NCBA Group has recorded a 114 percent growth in profit after tax to Ksh.10.22 billion for the full year ended December 31, 2021.
This is up from 4.57 billion shillings reported in the previous year.
The lender’s profit before tax stood at Ksh.15.03 billion.
The record profit for the lender has been attributed to an increase in operating incomes of Ksh.2.7 billion and a significant decline in loan impairment charges of Ksh.7.7 billion.
Its operating profit before loan loss provisions grew 6 percent up year on year to Ksh.28.4 billion.
At the same time, NCBA reported disbursement of Ksh.584 billion in digital loans signaling a 35 percent rise in line with the lender’s digitization agenda.
The group recommended to their shareholders’ payment of a final dividend for the year to Ksh.2.25 per share translating to Ksh.3 total dividend for the year ended.