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The Kenyan banking group reported a 0.6% increase in operating income to KES 46.9 billion while operating expenses rose 1.6% to KES 28.6 billion. Provision for credit losses fell 32.8% to KES 4.1 billion.
NCBA Group PLC of Kenya has posted a profit after tax of KES 15.1 billion in its Q3 2024 financial results, a 3.0% increase compared to KES 14.6 billion reported during the same period in 2023.
The Kenyan banking group reported a 0.6% increase in operating income to KES 46.9 billion while operating expenses rose 1.6% to KES 28.6 billion. Provision for credit losses fell 32.8% to KES 4.1 billion.
Digital loans disbursed reached KES 751 billion, an 8% jump year-on-year, as the group’s focus on enhancing digital financial inclusion services continued to pay off.
The Kenya banking business contributed 83% of the group’s KES 18.4 billion in profit before tax, while regional subsidiaries in Uganda, Tanzania, and Rwanda delivered a combined KES 2.4 billion, or 13% of the group’s PBT.
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NCBA also saw growth in its non-banking subsidiaries, including investment banking, bancassurance, leasing and insurance, which contributed 4% of group PBT.
