The National Bank of Kenya (NBK) reported a profit after tax of KES 839 million in the first half of 2024. This was a significant recovery from a pre-tax loss of KES 3.8 billion in the same period last year.
Pre-tax profit surged to KES 1.1 billion, driven by a 20% increase in net operating income. Non-funded income contributed 26% of total operating income, showcasing NBK’s successful strategy.
Total assets grew marginally to KES 153 billion. Despite a temporary decline, customer deposits closed at KES 102 billion. Charges decreased by 9%, reflecting improved credit management.
NBK is optimistic about its future growth, driven by technological advancements, a focus on sustainability, and a commitment to delivering value to shareholders.
“Despite challenging economic conditions, we have successfully turned things around. Our focus on income diversification, operational efficiency, and customer satisfaction has been key to our growth and market positioning,” NBK Managing Director George Odhiambo.
