NCBA net profit hits record Sh13.7bn, increases dividends
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Nairobi, March 29 -- NCBA Group has increased its dividends payout for the second straight year after net profit for the financial year ended December 2022 grew by 35 percent to Sh13.78 billion.
The board has recommended a total dividend of Sh4.25 per share, up from Sh3 that was paid previously when the net profit was at Sh10.22 billion.
This marks the second year running for the lender to increase dividends payout given that it had paid Sh1.50 on 2020 performance.
The bank, a product of the 2019 merger between NIC and CBA, saw a rise in net earnings in the period interest and non-interest income grew in line with increased lending.
Net interest income rose from Sh27.04 billion to Sh30.68 billion, helped by increased lending that took...
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