NCBA Group Posts KES 23.4 Billion Profit, Launches New Ubuntu Strategy as Nedbank Deal Nears
NCBA Group PLC has reported a profit after tax of KES 23.4 billion for the full year 2025, marking a 7 percent rise from the KES 21.9 billion recorded in the prior year, as the Nairobi-listed lender wraps up a five-year strategic cycle and pivots toward a new growth chapter.
The stronger bottom line translated into a significantly higher dividend payout, with shareholders set to receive KES 11.7 billion, up from KES 9.1 billion in 2024. This is a 30 percent increase in dividend per share, with a final recommended payout of KES 7.10 per share.
Operating income climbed 17 percent year-on-year to KES 73.3 billion, though the bank also saw operating expenses rise by the same rate, reaching KES 37.5 billion. Provisions for credit losses jumped sharply, up 46.3 percent to KES 8.0 billion, signaling continued caution in the lending environment. Total assets grew 8 percent to KES 716 billion, while customer deposits closed at KES 532 billion.
One of the most striking figures was in digital lending. NCBA disbursed KES 1.4 trillion in digital loans across Sub-Saharan Africa during the year, a 33 percent increase. The group’s digital business now accounts for 32 percent of group profitability, with a profit before tax of KES 9.0 billion.
The 2025 results draw a curtain on NCBA’s 2020–2025 strategic plan, which the group says delivered meaningful transformation across its business. The bank doubled its core retail customer base and expanded its branch network from 89 to 123 locations. Its Asset Finance division maintained over 30 percent market share throughout the period, while assets under management in the Investment Bank crossed the KES 100 billion mark.
Group Managing Director John Gachora framed the results as a milestone moment. “The 2025 outcomes are a great milestone to close out our 2020–2025 strategy,” he said, pointing to disciplined execution and diversification as the driving forces behind the group’s resilience.
The Kenya Bank subsidiary remained the group’s main engine, contributing 82 percent of profit before tax and growing at a 27 percent compound annual rate since 2020 to reach KES 22.9 billion PBT. Regional banking operations generated KES 3.6 billion in PBT, more than double their 2020 baseline, while non-banking subsidiaries, including the investment bank, bancassurance, leasing, and insurance units, posted a combined KES 1.9 billion.
Looking ahead, NCBA is launching its “Ubuntu” strategy for the 2026–2030 period, built around a new purpose statement: Banking on Belief – Empowering Ambitions. The strategy is organized around four pillars: fortifying core services, scaling high-growth segments such as wealth management, SME banking, and insurance, unlocking new geographic and sector frontiers, and building a more empowered, purpose-driven internal culture.
Underpinning the forward outlook is a proposed acquisition of a 66 percent stake in NCBA Group by South Africa’s Nedbank, a transaction the group says could accelerate its ambitions while deepening its capital base. The deal is expected to give customers access to international servicing capabilities across London, the Isle of Man, Jersey, and Dubai, while opening pathways to larger financing tickets.
“We are proud of the progress we have made, excited about the Ubuntu strategy, and clear that the Nedbank transaction will only accelerate our ambitions,” Gachora said.
The group also highlighted milestones beyond the balance sheet, including KES 9.5 billion mobilized in green and sustainable financing, more than 1.3 million trees planted, and 70,536 women and youth empowered through skills and mentorship programs.
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