CorporateFinance

NCBA Q3 profit up 97% to Ksh.12.8 billion

NCBA net profit in nine months to September surged by 97 percent to Ksh.12.8 billion from Ksh.6.5 billion profit posted same period last year

the record profit for the lender has been anchored on a 39.8 percent rise in non-interest funded income under which foreign exchange income more than tripled to Ksh.9.2 billion from Ksh.3.5 billion.

Net interest income has grown by 14.9 percent to Ksh.23.2 billion from Ksh.20.2 billion last year.

Growth in interest income has been supported in part by an 11.7 percent growth in net loans and advances to customers which stood at Ksh.266.1 billion from Ksh.238.2 billion.

The lower loan-loss provisioning costs have been backed by a 20.9 per cent decline in gross non-performing loans (NPLs).

NCBA has not recommended the payment of an interim dividend for the period.

Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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