Nairobi, April 5 -- NCBA Bank Kenya's revenue from its digital platforms Fuliza, Mshwari, and Loop fell 34 percent to Sh2.59 billion in the financial year ended December 2023, hit by reduced charges on the Fuliza overdraft facility.

Disclosures by the lender show that revenue from the three digital products fell from Sh3.92 billion it had earned in a similar period of the previous year.

The drop in revenue came despite an increase in the amount of cash advanced via Fuliza, Mshwari, and Loop. The reduced revenue came in the period NCBA and Safaricom, who partner on the Fuliza loans, cut the product's tariff.

Loans issued through the Fuliza service, which allows M-Pesa users to overdraw on their balances, grew by 26.9 percent to Sh789.6 ...