NCBA: The People’s Bank—East Africa’s Financial Powerhouse For SMEs, Creators, And Visionaries
In the ever-evolving landscape of East African banking, one institution has risen above the rest, not merely as a financial entity but as a beacon of innovation, inclusivity, and unwavering commitment to its clientele. NCBA Group has not only redefined banking but has also become an indispensable partner for small and medium enterprises (SMEs), entrepreneurs, content creators, and everyday citizens striving for financial empowerment.
At the heart of NCBA’s success lies its impressive financial performance. In the first quarter of 2024, the bank reported a net profit of Kshs 5.3 billion, marking a 5% increase from the previous year. This growth is attributed to a diversified business model, increased non-interest income, and a significant reduction in loan impairment charges by 30.9%. Such resilience in a challenging economic environment underscores NCBA’s robust financial health and strategic foresight.
NCBA’s digital transformation has been pivotal in enhancing customer experience. The launch of the NCBA Now app exemplifies the bank’s commitment to providing seamless, real-time banking services. This omnichannel application offers features such as account monitoring, card management, fund transfers, and bill payments, catering to both customers and non-customers across the region.
For the digitally savvy and the youth, NCBA’s Loop platform has revolutionized neobanking in Kenya. By integrating credit and payments directly into transactions, Loop aligns with the global shift towards embedded finance, offering users the convenience of accessing loans and making payments in a single transaction.
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NCBA’s collaboration with Safaricom on Fuliza and M-Shwari has further cemented its role in promoting financial inclusion. Despite a 34% drop in revenue from these platforms due to reduced charges, the bank witnessed a surge in loan disbursements, with Fuliza loans growing by 26.9% to Sh789.6 billion and M-Shwari loans increasing by 17% to Sh102.4 billion. This indicates a strategic shift towards affordability and accessibility for the masses.
The bank’s customer-centric approach has not gone unnoticed. In a recent customer experience survey by the Kenya Bankers Association, NCBA was ranked second among 39 commercial banks, reflecting its dedication to understanding and meeting customer needs.
NCBA’s commitment to SMEs is evident through its Enterprise Development Programme in partnership with Strathmore Business School. This initiative offers a 16-week training course designed to equip business owners with the skills needed to identify opportunities, foster innovation, and unlock their business potential.
Beyond banking, NCBA has demonstrated a strong commitment to sustainability and social impact. Through its “Change The Story” platform, the bank has undertaken various initiatives, including providing education scholarships, investing in inclusive regional golf tournaments, and supporting tree-growing programs. These efforts align with NCBA’s 15 Sustainability Commitments, showcasing its dedication to environmental conservation and community development.
NCBA’s regional footprint continues to expand, with sub