NCBA Group PLC shareholders will get a dividend payout of Sh. 3 per share. This is after the lender posted a profit before tax of Sh. 15.03 billion for the financial year ending December 31, 2021. This profit saw the group register profit after tax of Sh. 10.22 billion representing 124 per cent growth up from Sh. 4.57 billion reported in 2020.

The growth in profitability was attributed to an increase in operating income of Sh. 2.7 billion and a significant decline in loan impairment charges of Sh. 7.7 billion.

“I am extremely proud of the financial results that the Group delivered in 2021. While there is still much more to do, it is clear that our merger is paying dividends. The results are a reflection that we are delivering on our strategy,” John Gachora, the NCBA Group Managing Director said.

He pointed out that the bank now has a strong balance sheet with total assets up Sh. 63.1 billion to close at Sh. 591.1 billion. During the year under review, customer deposits went up by Sh. 48.4 billion to close at Sh. 469.9 billion.

“We remain well capitalized with core capital at Sh. 70.9 billion and have robust liquidity of 61.7 per cent. This foundation has allowed us to continue serving our customers effectively throughout the pandemic,” he said.

In the 2021 financial year, NCBA disbursed Sh. 584 billion in digital loans, which was a 35 per cent increase year on year.

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There was also operating income of Sh. 49.2 billion, which went up 6 per cent. Loan impairments charges for the period went down 38 per cent to stand at  Sh. 12.7 billion.

During the year, the bank in Kenya opened 13 new branches across Mombasa, Nyeri, Karatina, Ruiru, Bungoma, Embu, Kakamega, Kericho, Ngong, Naivasha and Kiambu.

This contributed to 11 per cent growth in the deposit base for the bank. In the current year, NCBA will launch 12 additional branches to continue bringing its services closer to its customers.

During the year, NCBA finalized the post-merger consolidation of its mobile banking channels under the NCBA Now mobile app. This exercise was intended to deliver merger cost synergies and to provide a unified platform from which to elevate customer experiences.