NCBA has awarded leading vehicle dealers and insurance partners at the annual Johari Awards at Ole Sereni, Nairobi.
Speaking at the Johari awards Gala, NCBA Group Managing Director, Mr. John Gachora, said, “these awards showcase our commitment to secure your growth by forging strategic partnerships alongside providing innovative solutions. Our latest Asset Finance Market Leadership of 37% share, our partnership expansion by 30%, and growth in retail asset finance disbursements by 18% are a true testament to the success of our collaboration.
The Group which released its Q3 2024 Financial results last week posted a profit after tax of KES 15.1 billion, a 3.0% increase compared to KES 14.6 billion reported during a similar period in 2023. NCBA’s Asset Finance non-banking subsidiaries including Bancassurance, Leasing, and NCBA Insurance (formerly AIG Kenya) closed with positive profitability contributing 3% of the Group PBT.
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“We have done our best to ensure our partners have room to operate with ease and they have not let us down, amidst the volatile operating economic environment this year. The 100% acquisition of AIG Kenya has further strengthened NCBA’s position in the financial services industry by tapping into a sizeable KES 309 billion insurance sector. This strategic move has strengthened our position in the sector and expanded our ability to offer world-class financial solutions. These awards underscore the collective success in strengthening NCBA’s market leadership and highlight the critical partnerships that have propelled this remarkable growth trajectory,” added Mr. Gachora.
7 mini galas across the country preceded the main gala, which provided the Group with an opportunity to engage with dealers across the region and built a sense of inclusivity in line with its diversity and inclusion agenda.
Mr. Gachora who is also the KBA Chairman assured the vehicle dealers that the banking industry was stable, resilient and adequately capitalized contrary to misinformation late last month that it was facing challenges.
