NCBA Group , a leading financial services conglomerate controlled by some of Kenya's wealthiest families has reported a 5 percent increase in profit after tax for the first half of 2024, reaching Sh9.8 billion ($76 million). This reveals a notable improvement from the Sh9.3-billion profit recorded in the same period in 2023.
John Gachora, the group managing director of NCBA, expressed satisfaction with the company's performance.
"We are pleased to announce another set of strong financial results for the first half of 2024," he said. Gachora attributed the success to NCBA's diversified business model, which has helped the lender navigate a difficult operating environment.
Despite facing several economic headwinds, NCBA's strategic focus on diversification and strong income growth has allowed the group to post solid results. In light of the positive performance, NCBA's board has proposed an interim dividend of Sh2.25 per ordinary share.
