The National Bank of Kenya (NBK) has kicked off the 2026 financial year with a remarkable performance, reporting a staggering 275% increase in profit after tax for the first quarter ending March 31, 2026.
According to its latest financial results, the lender’s net profit jumped to Ksh. 1.03 billion, up from Ksh. 275.7 million recorded during the same period last year. This aggressive growth was primarily fueled by a sharp rise in net interest income and a dramatic 92% reduction in credit impairment charges.
Financial performance at a glance
The table below outlines NBK’s key financial metrics for Q1 2026 compared to previous reporting periods (Q1 2025 and December 2025):
| Financial Metric | Q1 2026 | Previous Period | Performance / Change |
| Profit After Tax | Ksh. 1.03 billion | Ksh. 275.7 million (Q1 2025) | +275% |
| Net Interest Income | Ksh. 2.84 billion | Ksh. 2.40 billion (Q1 2025) | Enhanced asset pricing |
| Non-Interest Income | Ksh. 664.3 million | Resilient performance | Consistent fees & commissions |
| Operating Expenses | Ksh. 2.10 billion | Maintained flat | Cost management initiatives |
| Loan Loss Provisions | Ksh. 50.0 million | Ksh. 618.0 million (Q1 2025) | -92% (Improved credit quality) |
| Total Assets | Ksh. 145.3 billion | Ksh. 141.1 billion (Dec 2025) | Asset base expansion |
| Net Loans & Advances | Ksh. 57.0 billion | Ksh. 51.0 billion (Dec 2025) | Increased sector lending |
| Customer Deposits | Ksh. 106.7 billion | Stable growth base | Strong customer confidence |
NBK’s revenue streams showed strong resilience despite a highly competitive operating environment. Net interest income rose to Ksh. 2.84 billion, supported by disciplined asset pricing and improved funding efficiency. On the other hand, non-interest income held steady at Ksh. 664.3 million, reflecting solid transaction volumes.
A major highlight of the quarter was the bank’s ability to clean up its loan book. Loan loss provisions experienced a massive drop, falling to just Ksh. 50 million. The bank attributed this turnaround to an aggressive year-on-year reduction in non-performing loans (NPLs), enhanced credit quality, and improved recovery strategies. Meanwhile, strict internal cost controls kept operating expenses flat at Ksh. 2.1 billion.
Speaking on the performance, National Bank of Kenya Managing Director, George Odhiambo, emphasized that the bank is undergoing a strategic reinvention.
“We have started off the year on a strong footing, driven by customer confidence, cost management, and operational efficiency initiatives,” said Odhiambo. “We are reinventing ourselves in the market to come out stronger, and I am confident that by the end of the year, we will be at a higher level. Our focus is to continue serving our customers, exploring more business opportunities, and expanding our product and service offering to better serve the market.”