NCBA first quarter profit up 49 percent to Sh5.1 billion
NCBA Group’s net profit for the quarter that ended March has surged by 49 percent to Kes5.1 billion from Kes3.4 billion in Q1 2022 attributable to an increase in operating income and a decline in loan impairment charges. Despite the tough macroeconomic conditions, the Group’s prudent management of credit risk has resulted in an improved NPL ratio and a reduced cost of risk. In the quarter, loan loss provision eased by 23 percent down year on year to Kes2 billion in a period when the lender’s loans on digital platforms went up by 37 percent to Kes223 billion. Further, customer deposits increased 7 percent to…
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