Businesses & Financial News

NCBA bank profits soars to Kes7.4Billion

The NCBA Group PLC has posted a profit before tax of KES 7.4 billion in its half-year results ending June 30th 2021 which is a 90% increase compared to KES 3.9 billion reported during a similar period last year.

The Group registered a profit after tax of KES 4.7 billion representing 77% growth up from KES 2.6 billion in half year 2020.

Growth in profitability was attributed to increase in operating income by KES 2.8 billion, driven by higher customer activity and a decline in loan impairment charges by KES 1.7 billion.

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