NCBA Bank Kenya, whose full name is NCBA Bank Kenya Plc, is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya, the country’s central bank and national banking regulator. NCBA Profit Rises as Dividend Increases
NCBA profit rose to KSh 23.4 billion ($180.3 million) for the year ended December 31, 2025, as the Kenyan lender increased its dividend by 22.5 percent ahead of a proposed acquisition by Nedbank. The results position the bank strongly as it approaches a significant ownership transition expected later in 2026.
The lender, NCBA Group, reported a KSh 1.5 billion increase in earnings compared with the previous year’s KSh 21.9 billion. The board approved a total dividend of KSh 7.1 per share, up from KSh 5.5 in 2024, with payments scheduled for shareholders on record as of April 30, 2026, and disbursement from May 26, 2026.
NCBA Profit Driven by Strong Income Growth
The rise in NCBA profit was supported primarily by growth in net interest income, which increased from KSh 9 billion to KSh 44 billion during the reporting period. This sharp increase reflects improved lending margins and a stronger revenue base.
Non-interest income also contributed to the performance, rising by KSh 1.1 billion to reach KSh 29.2 billion. The combination of interest and non-interest revenue growth highlights the bank’s diversified income streams.
Group Managing Director John Gachora confirmed the dividend schedule, noting that shareholders will receive their payments following the record date in April.
Read Also: South Africa’s Nedbank Group to Acquire 66% Stake in Kenya’s NCBA Bank
NCBA Profit Boosts Shareholder Returns
The increase in NCBA profit has translated into higher returns for shareholders, including some of Kenya’s most prominent business families. The dividend payout of KSh 7.1 per share represents a 22.5 percent increase from the previous year.
The Kenyatta family, through Enke Investments, holds a 13.2 percent stake in NCBA, equivalent to 217.5 million shares. Based on the declared dividend, the family is expected to receive approximately KSh 1.54 billion ($11.9 million).
Similarly, the Ndegwa family, through First Chartered Securities, holds a 14.44 percent stake amounting to about 246 million shares. Their dividend payout is projected at approximately KSh 1.75 billion ($13.5 million).
Combined, the two families are set to receive more than KSh 3.2 billion ($24.7 million) from the 2025 dividend distribution.
NCBA Profit Strengthens Case for Nedbank Deal
The strong NCBA profit figures come at a critical time as the bank prepares for a proposed acquisition by Nedbank. In January 2026, Nedbank made an offer to acquire approximately 66 percent of NCBA for about R13.9 billion ($856 million).
The transaction is structured with 20 percent cash and 80 percent in newly issued Nedbank shares listed on the Johannesburg Stock Exchange. If completed, NCBA will become a subsidiary of Nedbank, while the remaining 34 percent of shares will continue trading on the Nairobi Securities Exchange.
The Capital Markets Authority granted an exemption from mandatory full-offer rules in February, removing a key regulatory hurdle. Shareholders representing about 77.54 percent of NCBA’s shares have already provided irrevocable undertakings in support of the deal.
NCBA Profit Reflects Regional Expansion Strategy
The growth in NCBA profit also reflects the bank’s expanding regional footprint. The group operates across multiple African markets, including Kenya, Uganda, Tanzania, Rwanda, Ghana and Ivory Coast.
NCBA manages assets worth KSh 665 billion ($5.13 billion) and disburses more than KSh 1 trillion ($7.71 billion) in digital loans annually. Its customer base exceeds 60 million, indicating significant scale in both retail and digital banking segments.
The bank has maintained an average return on equity of approximately 19 percent since 2021, underscoring consistent performance over recent years.
Market Implications of NCBA Profit Growth
The latest NCBA profit results send a broader signal to investors about the resilience of Kenya’s banking sector. Strong earnings growth, combined with increased dividends, reinforces the attractiveness of bank stocks as income-generating investments.
At the same time, the pending acquisition highlights a trend of cross-border consolidation in African banking. Large regional players are increasingly seeking to expand through strategic acquisitions rather than organic growth alone.
For NCBA, the combination of strong financial performance and a major acquisition offer places it at the center of evolving dynamics in the region’s financial services industry.
Outlook for NCBA Profit and Ownership Transition
Looking ahead, the trajectory of NCBA profit will depend on continued revenue growth, cost management and successful integration with Nedbank if the deal is completed. Regulatory approvals and shareholder processes will also play a critical role in determining the timeline of the transaction.
If finalized, the acquisition could reshape NCBA’s strategic direction, providing access to additional capital, expertise and regional networks through Nedbank.
For now, the bank’s latest results demonstrate financial strength at a pivotal moment. The performance not only supports higher shareholder returns but also reinforces the rationale behind one of the most significant banking transactions in East Africa.
