NCBA net profit surges record 96 percent to Sh12.8bn in nine months

NCBA Bank managing director John Gachora. PHOTO | NMG

NCBA Group’s after-tax net profit for the nine months to September climbed 96.2 percent to Sh12.8 billion on the back of non-interest income especially a jump in foreign exchange trading.

The bank reported a net income of Sh6.5 billion during a similar period last year. Its interest earnings rose 14.9 per cent to Sh23.2 billion from Sh20.2 billion in quarter three last year, while non-funded income grew 39.8 per cent.

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