National Bank of Kenya (NBK), a subsidiary of KCB Group, reported KShs. 729 million profits after tax in half one results compared to KShs. 765 million over a similar period in 2021.
Whereas the Bank reported remarkable growth in total operating income at 13 per cent, operating costs grew by 11 per cent on the back of increased investments in strategic projects to enhance operational excellence and customer experience.
NBK Acting Managing Director Peter Kioko said that there was steady income growth, which the bank expects to increase in future periods when benefits from its current digitization and operational investments are realized.
“Our loan loss provision increased, highlighting the challenging lending environment of a tough economic period. Despite these challenges, the bank’s loan book grew to KShs. 69 billion and customer deposits grew to KShs. 112 billion. We maintained a strong balance sheet; total assets grew by 4 per cent to KShs. 139 billion,” added Kioko.
During the period, net interest income grew by 18 per cent from the previous year to KShs. 4.8 billion. This was largely contributed by interest income, which grew by 17 per cent to KShs. 6.8 billion owing to increased volumes in loans and advances as well as improved levels of debt recoveries. During the same period, interest expense grew to KShs. 2.0 billion on increased funding requirements of the bank.
National Bank is implementing other internal strategies aimed at raising organic capital including rigorous bad debt collection and balance sheet growth to boost profitability, which will ensure full compliance with the capital ratios.
Looking ahead, Kioko said: “We are on a steady growth trajectory and anticipate continued growth by supporting our clients and finding opportunities within the current environment. The Bank has a strong capital and liquidity base to support the growth of the business and especially through our digital offering. We have, therefore, embarked on a calculated strategy towards ensuring that we provide customer-centric and timely solutions to our customer segments.”
Join our community and solve the Puzzling fun with our range of crosswords
We are building some fun puzzles to put your problem-solving skills to the test and we want you to have a blast while you're at it!
Share your email and we’ll serve up new puzzles with your morning coffee.
Do you want to help shape the features we prioritize? Take a Survey to help us understand what matters to you most
Begin SurveyAM Live is NTV's morning current affairs show that sets the agenda for the day with insightful panels every weekday.
Business Redefined is Kenya’s premier thought leadership platform for unpacking matters regarding economic and finance policy as well demystifying complex developments in the region’s capital markets.
This is Daily Politics. Here we look into the ins and outs of everything Kenyan politics. We pull no punches and have no reason to sugarcoat anything that matters to Kenyans.
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Gumzo La Sato is a live social issues show that aims to create awareness about issues affecting the larger society. The discussions range from Parenting, Marital bliss and struggles, Oppression, violence, and all matters of the Heart.
Health Diary is a weekly show that highlights different types of diseases/conditions and seeks ways to prevent, treat/manage them. The show debunks this through real life stories and also feature specialists in different fields, to offer medical advice on the same.
Letter To My Younger Self is a podcast where guests get to write a letter to their younger self, from which Maxine formulates questions to ask them during the hour-long show.
Nation Reports is a weekly podcast offers an opportunity for listeners to interact with various reporters and journey with them as they unravel the biggest most emotive stories.
Paradise Lost peeks through the story of Louis Otieno, the times, and everything in between.
Speaking of Gen Z brings you entertaining but meaningful conversations about a generation that is trying to navigate through adulthood. Join hosts Michelle, Jackie and Esther as they unravel all things Gen Z.
Sport-On is a 30-minute sports magazine show on NTV and 3 hours on NATION FM. The show seeks to give the sports “fanatics” and “funatics” comprehensive and in-depth coverage of sports both locally and internationally.
Thamani is a business show which is dedicated to emerging issues regarding micro, small and medium size businesses.
A two-hour-long live show that airs on Fridays. The show focuses on what is current in the entertainment industry, controversial and popular across all media platforms targeting those aged between 25 and 35 years.
The Wicked Edition with Dr. King’ori seeks to address serious issues through humour and relatable wit. It is a two-part half hour show filmed in front of a live audience
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Twende is a travel show that highlights beautiful, unique, diverse locations, people, and cultures. The show offers fresh perspectives on familiar locations and memorable experiences in new ones.
This Saturday evening lifestyle show lets viewers share their stories and life experiences as openly & honestly for the purpose of shifting the culture of silence.
This weekly news show aims to have all sides of debate but not be constrained by it, listen to main voices in the contest but not allow them to hold the viewers hostage, entertain debate but allow push back with all due respect.
In this podcast, three widowers openly speak about the process of grief, how they found themselves exposed to the emotional turmoil of losing their wives, and how society still does not know how to deal with them.
Your World is a health, wellness and variety show. It provides a platform for audiences and experts to share their experiences on how to improve or manage health issues, across Kenya and the Africa region.
