Posted on :Wednesday , 29th September 2021
NCBA has reported a 77 per cent increase in its half year net profit to KSh4.7 billion compared to KSh2.6 billion posted in the same period in 2020, due to increased lending activity.
The bank's total interest income, which is the primary source of revenue, climbed by 9 per cent to KSh22.5 billion at the end of the half-year period from KSh20.7 billion in the same period last year. Total non-interest income grew to KSh10.7 billion in the first 6 months of 2021 from KSh10.08 billion in the first 6 months of 2020, a 6 per cent jump.
Kenya's 4th largest bank by assets expanded its customer deposits by 12 per cent to KSh437.3 billion at the end of the 1st half of this year from KSh390.5 billion in the same period a year ago. Its loans and advances to customers dipped by 3.5 per cent to KSh239.6 billion at the end of June 2021 from KSh248.3 billion at the end of June 2020.
The lender's total assets rose by 6 per cent to KSh542.59 billion from KSh514.03 billion posted in the 1st half of last year.
According to its financial report, NCBAâ€™s gross non-performing loans increased to KSh45 billion at the end of the 6 months period from KSh38.7 billion a year ago.