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Advertisement NCBA Group PLC Q1 Profit Rises to KES 6 BillionStrong Revenue Growth Drives Q1 PerformanceNCBA Group PLC has reported a profit after tax of KES 6.0 billion for the first quarter ending March 2026. This represents a 9 percent increase compared to KES 5.5 billion recorded during a similar period last year.The Groups operating income grew by 15 percent to KES 20 billion, supported by sustained business growth, revenue diversification, and resilience across its core operating segments.Profit before tax rose to KES 7.4 billion, while operating expenses increased by 9 percent to KES 9.7 billion. Customer deposits closed at KES 544 billion, reflecting a 10 percent growth year-on-year, while total assets rose by 13 percent to KES 741 billion.However, provisions for credit losses jumped by 56 percent to KES 2.5 billion as the lender adopted a more cautious approach to credit risk amid a volatile business environment.Group Managing Director John Gachora said the strong performance marked a positive start to the Groups new growth strategy.As we present our financial results for the first quarter of 2026, I am pleased to report that the Group has delivered a strong start to our new strategy anchored on four pillars: Fortifying the Core, Scaling High-Growth Segments, Unlocking New Growth Frontiers and Powered by a Future Ready Ubuntu purpose-driven culture, said Gachora.He added that the Group maintained a strong capital position, with a total capital adequacy ratio of 21.8 percent, well above the regulatory minimum of 14.5 percent.The lenders return on average equity remained stable at 18.4 percent, highlighting its focus on delivering long-term shareholder value.Kenya Business and Regional Subsidiaries Sustain GrowthNCBA Bank Kenya remained the Groups key profitability driver, posting a 20 percent increase in profit before tax to KES 6.5 billion.Regional subsidiaries in Uganda, Tanzania, and Rwanda delivered a combined profit before tax of KES 707 million. Meanwhile, non-banking subsidiaries including NCBA Investment Bank, NCBA Insurance, Leasing, and BancAssurance posted a combined KES 641 million in profit before tax.The Group also reported strong growth in its wealth management business. NCBA Investment Bank grew assets under management to KES 101.5 billion, while its wealth customer base surpassed 60,000 clients.NCBA Insurance and BancAssurance also recorded growth, with combined gross written premiums reaching KES 5 billion.NCBA Group PLC Q1 Profit Rises to KES 6 BillionDigital Banking and Asset Finance Power ExpansionNCBA continued to strengthen its digital banking capabilities through technology investments focused on cybersecurity, customer experience, and AI-powered onboarding and credit solutions.The Group improved service uptime to 99.74 percent while its Digital Channels Net Promoter Score rose to 62, reflecting stronger customer satisfaction and trust.Its upgraded online banking platform, NCBA ConnectPlus, continued to support corporate customers, handling KES 181 billion in lending and KES 211 billion in deposits.The lenders strategy to scale high-growth segments also continued to gain traction. In asset finance, where NCBA commands a 32 percent market share, its digital vehicle trading platform CarDuka has attracted nearly 7 million users.The newly launched SME lending solution, NCBA BOOSTA, is expected to accelerate growth in the MSME segment after the Group reported KES 8.3 billion in MSME lending during Q1 2026.Digital banking remained a major growth driver for the Group, with 98 percent of all transactions conducted through digital channels. Digital loan disbursements grew by 27 percent to KES 391 billion during the quarter.Sustainability and Community Investments Remain Key FocusBeyond financial performance, NCBA continued to invest in sustainability and community initiatives across the region.The Group said it positively impacted more than 200,000 livelihoods through various social programs during the quarter. Nearly 200 students benefited from scholarships, while more than 200,000 trees were planted in partnership with organizations including the Kenya Forest Service and the National Forest Association of Uganda.Sports sponsorships and creative economy programs also supported thousands of beneficiaries, including golfers, cyclists, and young creatives.On green financing, the Group played a lead role in the Kenya Mortgage Refinance Company green bond that raised KES 3 billion. NCBA also served as Trustee and Receiving Bank for the KES 4.8 billion Two Rivers International Finance and Innovation Centre Green Income REIT.The lender further disbursed KES 190 million in green financing during the quarter.Looking ahead, Gachora said the proposed transaction with Nedbank Group Limited remained on course, with major milestones progressing as planned.He added that while the Group had not experienced significant disruptions from the ongoing Middle East geopolitical tensions, management continued to closely monitor developments and their potential impact on inflation, liquidity, and broader economic conditions.The post NCBA Group PLC Q1 Profit Rises to KES 6 Billion appeared first on Africa Business News.

Advertisement KCB Group PLC Q1 Profit Rises 15.3% to KShs. 24.4 BillionStrong Revenue Growth Boosts Q1 PerformanceKCB Group PLC has reported a 15.3 percent rise in pre-tax profit for the first quarter ending March 31, 2026. The lender posted KShs. 24.4 billion compared to KShs. 21.2 billion recorded during a similar period last year.The strong performance was driven by growth across regional subsidiaries, higher customer activity, and expansion in interest-earning assets. This came despite a challenging business environment marked by lower interest rates across East Africa.Total operating income increased by 8.5 percent to KShs. 53.6 billion. The growth was supported by expansion in interest-bearing assets, even as net interest margins declined following rate cuts by regional regulators.The Groups balance sheet expanded by 10.8 percent to KShs. 2.3 trillion. Customer deposits also rose by 15.7 percent due to increased activity across key business segments.Excluding the impact of National Bank of Kenya, which the Group divested from in May 2025, pre-tax profit and operating income grew by 17 percent and 16 percent respectively.Regional subsidiaries continued to strengthen the Groups earnings. Businesses outside KCB Bank Kenya contributed 29.5 percent of total earnings and accounted for 31.5 percent of the balance sheet.The Groups non-banking subsidiaries also posted steady performance. KCB Bancassurance Intermediary recorded KShs. 209 million in profit before tax, while KCB Investment Bank and KCB Asset Management posted KShs. 274 million and KShs. 64 million respectively.Digital Lending and Forex Income Support GrowthGroup Chief Executive Officer Paul Russo said the lenders performance reflected disciplined execution and continued investment in innovation.Despite the challenging operating environment, we delivered solid growth driven by disciplined execution, continued investment in digital innovation, and our unwavering commitment to providing financing which catalyzes economic transformation across the region, said Russo.He noted that although East Africa remained resilient, the ongoing Middle East conflict continued to affect economies through weaker credit demand, higher risks, lower remittance inflows, and pressure on deposits.Non-funded income rose by 8.3 percent to KShs. 17 billion. The growth was supported by increased digital loan disbursements and higher foreign exchange income as businesses sought financing for trade and working capital needs.At the same time, total operating costs grew by 7.3 percent to KShs. 24.3 billion. The increase was linked to higher workforce expenses, technology investments, and business expansion costs.KCB Group PLC Q1 Profit Rises 15.3% to KShs. 24.4 BillionImproved Asset Quality Strengthens Balance SheetKCB also recorded improvements in asset quality across its subsidiaries. The non-performing loan ratio dropped to 16.6 percent from 19.3 percent reported during the same period last year.The stock of non-performing loans declined to KShs. 217.8 billion from KShs. 233.3 billion. This was supported by aggressive recovery efforts and a 9.1 percent growth in the gross loan book.The Group continued to maintain prudent provisioning measures amid prevailing economic risks. It set aside KShs. 4.9 billion to cushion against possible loan losses.Customer deposits rose by 16 percent to KShs. 1.7 trillion, driven by onboarding of new retail and corporate customers. Meanwhile, the gross loan book increased to KShs. 1.32 trillion from KShs. 1.21 trillion recorded last year.KCB posted a Return on Equity of 21.5 percent. Shareholders equity also increased by 18.5 percent to KShs. 352.2 billion, while earnings per share rose to KShs. 22.18 from KShs. 20.03.Sustainability and Shareholder Value Remain Key FocusThe Group maintained strong capital buffers, with all banking subsidiaries remaining compliant with local regulatory requirements. Group core capital stood at 18.2 percent against the statutory minimum of 10.5 percent, while total capital to risk-weighted assets stood at 21.6 percent.The lender also maintained a strong liquidity ratio of 51.1 percent, positioning the Group to respond to emerging opportunities and market risks.Group Chairman Joseph Kinyua said the strong start to the year reflected the strength of the Groups long-term strategy and regional diversification.The Groups strong start to the year is a clear affirmation of the effectiveness of our long-term strategy, the resilience of our regional businesses, and the discipline with which we continue to execute our priorities, said Kinyua.Beyond financial performance, the Group continued to invest in sustainability and community initiatives.In January, KCB Foundation partnered with UNHCR to support financial inclusion and economic opportunities for refugees and host communities.In March, KCB Bank Kenya secured KShs. 12.5 billion in financing from the Green Climate Fund to support green projects targeting MSMEs and farmers.The lender also sponsored the 2026 WRC Safari Rally, investing KShs. 227 million into the global motorsport event.KCB Bank Kenya recently introduced a KShs. 20 flat fee on Pesalink transfers while waiving charges for transfers below KShs. 1,000 under the Tuma Direct na 20/- campaign.The post KCB Group PLC Q1 Profit Rises 15.3% to KShs. 24.4 Billion appeared first on Africa Business News.

HERB STUFFING MEATLOAF If you love stove top stuffing, try this delicious meatloaf. It’s easy and delicious and we topped it with brown gravy! Why You Will Love This Herb Stuffing Meatloaf If you love easy recipes, loaded with comfort this is one to try! We combined ground beef, Italian sausage and herb stuffing to give this meatloaf a great flavor. Then we topped it off with...

FCC Chairman Brendan Carr said the agency is considering whether television ratings should alert parents when childrens programming contains transgender or gender identity-related material as regulators

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