Kenya’s NCBA Group reported an 8.5% rise in profit after tax to KES 16.4 billion ($106 million) for the nine months to September, supported by higher operating income and continued growth in its regional and non-banking units.
Profit before tax increased to KES 20.5 billion, up 11.1% from the same period last year. Operating income rose 13.8% to KES 53.4 billion, while operating expenses grew 14% to KES 27.9 billion. Provisions for credit losses were up 24.5% at KES 5.1 billion.
NCBA said it disbursed KES 1 trillion in digital loans during the period, a 35% year-on-year increase, maintaining its position among East Africa’s largest digital lenders.
Customer deposits fell 5.3% to KES 488 billion, while total assets declined 2% to KES 665 billion, which the lender attributed to pricing adjustments and softer lending activity across its markets. The bank reported a non-performing loan coverage ratio of 68.9%.
Its Kenya banking unit contributed 82% of group pre-tax profit, while regional subsidiaries delivered KES 2.6 billion, or 12.5%. Non-banking units including investment banking, insurance and leasing posted a combined 48% rise in pre-tax profit to KES 1.2 billion.
NCBA cut its base lending rate for the fifth time this year to 13.27% in an effort to ease borrowing costs for customers in Kenya and Rwanda. The group continued to expand its branch network, reaching 122 outlets.
The lender recently launched ConnectPlus, a cloud-based corporate banking platform that has onboarded more than 20,000 customers in Kenya, with plans to roll it out in Uganda, Tanzania and Rwanda.
NCBA said it expects Kenya’s economy to grow 5.0% in 2025, rising to 5.1% in 2026, supported by improved momentum and stable policy conditions. The bank said it will focus on balance sheet discipline and risk management in the final quarter of the year.