NCBA reports Sh21.9 billion profit, digital loans surpass Sh1 trillion
NCBA's regional subsidiaries in Uganda, Tanzania, and Rwanda contributed Sh3.2 billion in profitability, a 7 per cent increase.

NCBA Group PLC has announced a profit after tax of Sh21.9 billion for the financial year 2024, a two per cent increase from Sh21.5 billion in 2023. The financial results highlight the group’s strong performance, particularly in digital lending, where it surpassed the Sh1 trillion mark in disbursements.
The group’s digital loan disbursements saw a 23 percent year-on-year increase, reaching Sh1 trillion. Despite a slight decrease in profit before tax and operating income, NCBA’s Managing Director, Mr John Gachora, emphasised the resilience of their diversified business model. He attributed a 10.6 per cent increase in operating expenses to targeted investments in digital transformation, network expansion, and operational efficiency.
“We are pleased to announce our Full Year 2024 financial results which reflect the resilience of
our diversified business model. The underlying trends of our P&L remained solid while our cost
increase of 10 per cent was driven by targeted investments in digital transformation, network
expansion and operational efficiency which have positioned us for long-term growth. Amidst
ongoing external headwinds, NCBA’s strategic imperatives have enabled us to deliver
shareholder value,” remarked Mr Gachora.
Key financial highlights include customer deposits of Sh502 billion and assets reaching Sh666 billion, both showing decreases year-on-year. The group’s non-performing loan (NPL) ratio stands at 11.2 per cent, with an impairment coverage of 60 percent. A final dividend of Sh3.25 per share was announced, bringing the total dividend for 2024 to Sh 5.50 per share.
NCBA’s regional subsidiaries in Uganda, Tanzania, and Rwanda contributed Sh3.2 billion in profitability, a 7 per cent increase, while non-banking subsidiaries grew by 36 per cent, contributing Sh1.2 billion.
The group expanded its network, adding 10 new locations across Kenya, Rwanda, and Uganda, and strengthened its agency banking partnership with Postbank. NCBA also retained its leadership in Asset Finance with a 35 per cent market share.
NCBA’s commitment to sustainability was also highlighted, with over 426,000 trees planted, 73 per cent of waste recycled in select offices, and Sh 6.5 billion mobilised for Green Financing. The group also set up electric vehicle charging stations and invested in employee training and development.
Looking ahead, NCBA plans to tighten credit risk management, enhance recovery efforts, and leverage digital channels for continued growth.
NCBA’s insurance subsidiary (formerly AIG Kenya) rebrand last week signifies successful integration into the NCBA Group PLC family. The new brand will leverage on the strengths of NCBA and become more competitive with amplified positioning in the market.