NCBA Group Plc has reported a KSh 10.2 Billion net profit for the financial year ended 31st December 2021. This is a increase of 121.7% from the Ksh. KSh 4.6 Billion which was posted in the year 2020.
The rise in profitability was on the back of a 5% increase in the total operating income to Ksh. 49 Billion up from Ksh. 46 Billion in 2020.
On the other hand, operating expenses fell by 16% to Ksh. 33 Billion down from Ksh. 40 billion in 2020. This was due to a 37.8% decrease in the loan loss provision to Ksh. 12.7 Billion down from Ksh. 20 Billion in the previous year.
Net Loans and Advances to Customers declined to KSh 244 Billion in 2021 from KSh 248.5 Billion in 2020. Total Shareholders’ Funds grew to KSh 77.9 Billion in 2021 from KSh 72.3 Billion, the amount of cash that owners of the lender are to be paid, was the business to be liquidated.
The NCBA Board has recommended the payment of a final dividend for the year of KSh 2.25 per share, which, together with the interim dividend of KSh 0.75 per share paid on 12th October 2021, brings the total dividend for the year 2021 to KShs 3.00 per share.
The 2021 dividend will be payable to the shareholders registered on the Company’s register at the close of business on 29th April 2022 and will be paid on or after 5th May 2022.