NCBA Group’s 2022 after-tax profit hit a record Ksh.13.78 billion ($93.4 million) from Ksh.10.22 billion ($69.3 million) in 2021.
Profit before tax increased by Ksh.7.5 billion to Ksh.22.5 billion from Ksh.15 billion in 2021. The growth was due to increased operating income by 27 percent (KSH.12.6 billion) principally driven by growth in business.
The consolidated financial statements include the results of the entities owned by NCBA Group. The group and its affiliates operate in Kenya, Tanzania, Uganda, Rwanda, Cote d’Ivore and Ghana.