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 prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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