NCBA Group PLC has reported a profit after tax of Ksh6.0 billion for the first quarter of 2026, marking a 9 per cent increase from the Ksh5.5 billion posted during the same period last year.

The lender released the results on Wednesday, May 20, 2026, showing strong growth in income, customer deposits, and digital banking activity despite a difficult operating environment.

NCBA’s operating income rose by 15 per cent to Ksh20.0 billion, while profit before tax increased by 9 per cent to Ksh7.4 billion. Operating expenses also went up by 9 per cent to Ksh9.7 billion.

The bank set aside Ksh2.5 billion for credit losses, a 56 per cent increase compared to last year. NCBA said the rise reflected a cautious approach to lending amid economic uncertainty.

Customer deposits grew by 10 per cent to Ksh544 billion, while total assets increased by 13 per cent to Ksh741 billion.

NCBA Group Managing Director John Gachora said the results reflected a strong start to the group’s new business strategy.

“As we present our financial results for the first quarter of 2026, I am pleased to report that the Group has delivered a strong start to our new strategy anchored on four pillars: Fortifying the Core, Scaling High-Growth Segments, Unlocking New Growth Frontiers, and Powered by a Future-Ready Ubuntu purpose-driven culture,” he said.

Gachora said the group maintained strong revenue growth across its main business units.

“The Group delivered strong topline momentum, with operating income increasing by 15 per cent year-on-year, reflecting sustained business growth, improved revenue diversification and continued resilience across core operating segments,” he added.

He also explained the sharp rise in impairment charges.

“Increase in impairment charges to Ksh2.5 billion was driven by a prudent approach to credit risk assessment given the heightened volatile operating environment,” Gachora said.

The bank’s capital position remained strong during the quarter. NCBA posted a total capital adequacy ratio of 21.8 per cent, above the regulatory minimum of 14.5 per cent. Return on average equity remained stable at 18.4 per cent.

NCBA Bank Kenya remained the group’s biggest profit driver. Profit before tax from the Kenyan unit rose by 20 per cent to Ksh6.5 billion.

Regional earnings and digital expansion

Regional subsidiaries in Uganda, Tanzania, and Rwanda posted a combined profit before tax of Ksh707 million. Non-banking subsidiaries, including NCBA Investment Bank, NCBA Insurance, Leasing, and BancAssurance, reported Ksh641 million in profit before tax.

The investment banking business continued to expand its wealth management operations. Assets under management rose to Ksh101.5 billion, while the number of wealth customers passed 60,000.

Insurance subsidiaries also recorded growth, with combined gross written premiums reaching Ksh5.0 billion.

NCBA continued to invest heavily in technology and digital banking. The lender improved service uptime to 99.74 per cent through cybersecurity upgrades, customer relationship management systems, and artificial intelligence-powered onboarding and lending processes.

The bank also reported a digital channels Net Promoter Score of 62 and recognition in the Kenya Bankers Association 2025 Customer Experience Survey.

Its upgraded NCBA ConnectPlus platform supported Ksh181 billion in lending and Ksh211 billion in corporate deposits.

The lender said digital banking remained central to its growth strategy. NCBA operates 123 branches across the region while expanding digital access to financial services.

In asset finance, where the bank controls a 32 per cent market share, its CarDuka vehicle trading platform has attracted close to 7 million users.

The bank also launched NCBA BOOSTA, a digital SME lending product offering up to Ksh35 million. The product is expected to support growth in the bank’s MSME lending business, which stood at Ksh8.3 billion during the quarter.

NCBA said 98 per cent of all transactions are now done through digital channels. Digital loan disbursements reached Ksh391 billion in Q1 2026, strengthening the lender’s position as one of the region’s leading digital banks.