NCBA Group has recommended a final dividend payout of Kes 4.75 per share in the full year ending December 2023, as profit after tax grows by 56 percent to Kes 21.5 billion.

According to the latest financial statement, the bank’s profit improved from Kes 13.8 billion during a similar period in 2022.

The group attributes positive results to a 4.5 percent jump in operating income to Kes 63.7 billion in the review period.

“Our regional subsidiaries (Tanzania, Rwanda, and Uganda) collectively delivered a profit before tax of Kes 3.0 billion, a notable improvement from the loss of Kes 308 million posted in Full Year 2022,” NCBA Group Managing Director John Gachora said.

Sixty million borrowers lent through NCBA’s digital lending platforms, growing borrowing to Kes 930 billion, representing a 27.5 percent jump.

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“Access to digital credit remained a key focus area to help customers manage their financial well-being.”

While customer deposits expanded by 15.3 percent to Kes 579 billion, assets grew to Kes 735 billion, representing an 18.6 percent increase.

“The Business has sustained growth momentum in line with our five-year strategic plan, which has positively enhanced shareholder value while supporting customers amidst a challenging macro-economic environment,” Gachora added