NCBA Group Plc reported a first-half profit of KES 12.4 billion ($95 million), up 12.2% from a year earlier, as East Africa’s largest bank by customer numbers benefited from stronger digital lending, higher customer deposits and continued investment in artificial intelligence despite a cautious economic environment. The Nairobi-based lender said profit before tax rose 14.3% to KES 15.5 billion, while operating income increased 15.1% to KES 40.7 billion during the six months ended June.
Digital banking remained one of the biggest drivers of growth. Kenya remained the group’s largest earnings market, with the local banking subsidiary increasing profitability by 24.3% to KES 13.7 billion.
NCBA invested KES 2.4 billion in technology infrastructure during the period to accelerate AI adoption, strengthen cyber resilience and improve the resilience of its banking platforms. Looking ahead, Chief Executive Officer John Gachora said NCBA expects continued growth opportunities supported by projected expansion in Kenya’s private sector credit market and regional investment activity, despite an uncertain global economic outlook.
