Annuncio • Jun 14
NCBA Group PLC to Report Q2, 2026 Results on Aug 27, 2026 NCBA Group PLC announced that they will report Q2, 2026 results on Aug 27, 2026 Annuncio • Jun 13
NCBA Group PLC to Report Q3, 2026 Results on Nov 26, 2026 NCBA Group PLC announced that they will report Q3, 2026 results on Nov 26, 2026 Reported Earnings • May 23
First quarter 2026 earnings released: EPS: KSh3.62 (vs KSh3.33 in 1Q 2025) First quarter 2026 results: EPS: KSh3.62 (up from KSh3.33 in 1Q 2025). Revenue: KSh17.5b (up 11% from 1Q 2025). Net income: KSh5.96b (up 8.8% from 1Q 2025). Profit margin: 34% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 27
Upcoming dividend of KSh4.60 per share Eligible shareholders must have bought the stock before 04 May 2026. Payment date: 26 May 2026. Trailing yield: 8.1%. Within top quartile of Kenyan dividend payers (7.7%). In line with average of industry peers (7.6%). Reported Earnings • Mar 28
Full year 2025 earnings released: EPS: KSh14.20 (vs KSh13.27 in FY 2024) Full year 2025 results: EPS: KSh14.20 (up from KSh13.27 in FY 2024). Revenue: KSh65.3b (up 14% from FY 2024). Net income: KSh23.4b (up 7.0% from FY 2024). Profit margin: 36% (down from 38% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Mar 26
NCBA Group PLC, Annual General Meeting, May 26, 2026 NCBA Group PLC, Annual General Meeting, May 26, 2026. Price Target Changed • Feb 14
Price target increased by 22% to KSh81.54 Up from KSh66.90, the current price target is provided by 1 analyst. New target price is 9.1% below last closing price of KSh89.75. The company posted earnings per share of KSh13.27 last year. Annuncio • Jan 22
Nedbank Group Limited (JSE:NED) made an offer to acquire 66% stake in NCBA Group PLC (NASE:NCBA) from group of shareholders for approximately KES 120 billion. Nedbank Group Limited (JSE:NED) made an offer to acquire 66% stake in NCBA Group PLC (NASE:NCBA) from group of shareholders for approximately KES 120 billion on January 21, 2026. The consideration consists of 43.82 million common equity of Nedbank Group Limited at a ratio of 0.04 per common equity of NCBA Group PLC and KES 22.8 billion in cash.
The Company has sufficient authorized but unissued Nedbank Group Shares available and the aggregate Cash Portion will be funded by existing cash resources.
The transaction is subject to approval by regulatory board / committee, board of directors of NCBA and the Competition Authority of Kenya. The expected completion of the transaction is not later than the third quarter of 2026.
Nedbank Corporate and Investment Banking acted as financial advisor for Nedbank Group Limited. Cliffe Dekker Hofmeyr acted as legal advisor for Nedbank Group Limited. Dyer & Blair Investment Bank Limited acted as Financial advisor to Nedbank Group Limited. New Risk • Dec 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Kenyan stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Reported Earnings • Nov 21
Third quarter 2025 earnings released: EPS: KSh3.23 (vs KSh3.20 in 3Q 2024) Third quarter 2025 results: EPS: KSh3.23 (up from KSh3.20 in 3Q 2024). Revenue: KSh16.3b (up 14% from 3Q 2024). Net income: KSh5.33b (flat on 3Q 2024). Profit margin: 33% (down from 37% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to KSh81.25, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 5x in the Banks industry in Kenya. Total returns to shareholders of 272% over the past three years. Price Target Changed • Sep 18
Price target increased by 13% to KSh66.90 Up from KSh59.20, the current price target is an average from 2 analysts. New target price is 5.8% below last closing price of KSh71.00. Stock is up 73% over the past year. The company posted earnings per share of KSh13.27 last year. Upcoming Dividend • Sep 12
Upcoming dividend of KSh2.50 per share Eligible shareholders must have bought the stock before 19 September 2025. Payment date: 02 October 2025. Trailing yield: 7.6%. Within top quartile of Kenyan dividend payers (7.6%). In line with average of industry peers (8.3%). Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: KSh3.38 (vs KSh2.74 in 2Q 2024) Second quarter 2025 results: EPS: KSh3.38 (up from KSh2.74 in 2Q 2024). Revenue: KSh16.4b (up 17% from 2Q 2024). Net income: KSh5.56b (up 23% from 2Q 2024). Profit margin: 34% (up from 32% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 25
Upcoming dividend of KSh3.25 per share Eligible shareholders must have bought the stock before 02 May 2025. Payment date: 28 May 2025. Trailing yield: 10%. Within top quartile of Kenyan dividend payers (10%). In line with average of industry peers (10%). Price Target Changed • Apr 09
Price target increased by 7.3% to KSh54.53 Up from KSh50.80, the current price target is an average from 2 analysts. New target price is 5.9% above last closing price of KSh51.50. Stock is up 18% over the past year. The company posted earnings per share of KSh13.27 last year. Reported Earnings • Mar 27
Full year 2024 earnings released: EPS: KSh13.27 (vs KSh13.02 in FY 2023) Full year 2024 results: EPS: KSh13.27 (up from KSh13.02 in FY 2023). Revenue: KSh57.2b (up 5.7% from FY 2023). Net income: KSh21.9b (up 1.9% from FY 2023). Profit margin: 38% (down from 40% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 27% per year. Annuncio • Mar 26
NCBA Group PLC, Annual General Meeting, May 28, 2025 NCBA Group PLC, Annual General Meeting, May 28, 2025. Reported Earnings • Dec 01
Third quarter 2024 earnings released: EPS: KSh3.20 (vs KSh3.22 in 3Q 2023) Third quarter 2024 results: EPS: KSh3.20 (down from KSh3.22 in 3Q 2023). Revenue: KSh14.2b (up 1.7% from 3Q 2023). Net income: KSh5.28b (flat on 3Q 2023). Profit margin: 37% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 05
Upcoming dividend of KSh2.25 per share Eligible shareholders must have bought the stock before 12 September 2024. Payment date: 25 September 2024. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 12%. Within top quartile of Kenyan dividend payers (12%). In line with average of industry peers (11%). Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: KSh2.74 (vs KSh2.59 in 2Q 2023) Second quarter 2024 results: EPS: KSh2.74 (up from KSh2.59 in 2Q 2023). Revenue: KSh14.0b (up 7.6% from 2Q 2023). Net income: KSh4.51b (up 5.4% from 2Q 2023). Profit margin: 32% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Price Target Changed • May 25
Price target increased by 15% to KSh62.51 Up from KSh54.55, the current price target is an average from 2 analysts. New target price is 52% above last closing price of KSh41.05. Stock is up 19% over the past year. The company posted earnings per share of KSh13.02 last year. Reported Earnings • May 04
Full year 2023 earnings released: EPS: KSh13.02 (vs KSh8.42 in FY 2022) Full year 2023 results: EPS: KSh13.02 (up from KSh8.42 in FY 2022). Revenue: KSh54.1b (up 14% from FY 2022). Net income: KSh21.5b (up 55% from FY 2022). Profit margin: 40% (up from 29% in FY 2022). The increase in margin was primarily driven by higher revenue. Non-performing loans: 10.33% (down from 11.06% in FY 2022). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 25
Upcoming dividend of KSh3.00 per share Eligible shareholders must have bought the stock before 02 May 2024. Payment date: 29 May 2024. Trailing yield: 11%. Lower than top quartile of Kenyan dividend payers (12%). In line with average of industry peers (11%). Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: KSh13.02 (vs KSh8.42 in FY 2022) Full year 2023 results: EPS: KSh13.02 (up from KSh8.42 in FY 2022). Revenue: KSh54.5b (up 15% from FY 2022). Net income: KSh21.5b (up 55% from FY 2022). Profit margin: 39% (up from 29% in FY 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 28
Third quarter 2023 earnings released: EPS: KSh3.22 (vs KSh3.05 in 3Q 2022) Third quarter 2023 results: EPS: KSh3.22 (up from KSh3.05 in 3Q 2022). Revenue: KSh14.0b (flat on 3Q 2022). Net income: KSh5.30b (up 5.3% from 3Q 2022). Profit margin: 38% (up from 36% in 3Q 2022). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Banks industry in Kenya. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Annuncio • Sep 27
NCBA Group Seeks to Buy All Shares of Insurer AIG Kenya NCBA Group PLC (NASE:NCBA) planned to buy an additional 66.67% stake in AIG Kenya Insurance Co. Ltd. from an American multinational in a deal that will see it take full ownership of the insurer. The firm said on Monday its board has given the green light to the proposed transaction, which if successful, will see it take control of the insurer that is majority-owned by American International Group (AIG) Inc, a US multinational with operations in more than 80 countries. AIG Kenya clients include multinationals, large Kenyan businesses, small and middle-sized enterprises and thousands of individuals, which NCBA wants to tap into. “Insurance is increasingly becoming a basic financial need for the type of customer that NCBA serves,” said John Gachora, managing director at NCBA. “We believe that by bringing together NCBA’s physical and digital distribution platforms and AIG Kenya’s insurance capabilities we will accelerate towards our ambition to become a universal bank that addresses a full set of our customers’ financial needs”. Upcoming Dividend • Sep 08
Upcoming dividend of KSh1.75 per share at 10.0% yield Eligible shareholders must have bought the stock before 15 September 2023. Payment date: 28 September 2023. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 10.0%. Lower than top quartile of Kenyan dividend payers (11%). In line with average of industry peers (11%). Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to KSh33.40, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 4x in the Banks industry in Kenya. Total returns to shareholders of 51% over the past three years. Upcoming Dividend • Apr 25
Upcoming dividend of KSh2.25 per share at 11% yield Eligible shareholders must have bought the stock before 02 May 2023. Payment date: 31 May 2023. Trailing yield: 11%. Lower than top quartile of Kenyan dividend payers (11%). In line with average of industry peers (10.0%). Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: KSh8.36 (vs KSh6.25 in FY 2021) Full year 2022 results: EPS: KSh8.36 (up from KSh6.25 in FY 2021). Revenue: KSh47.9b (up 31% from FY 2021). Net income: KSh13.8b (up 34% from FY 2021). Profit margin: 29% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improved over the past week After last week's 15% share price gain to KSh36.45, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 4x in the Banks industry in Kenya. Total returns to shareholders of 45% over the past three years. Reported Earnings • Dec 01
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: KSh14.0b (up 58% from 3Q 2021). Net income: KSh10.4b (up 458% from 3Q 2021). Profit margin: 74% (up from 21% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 1 highly experienced director. 5 independent directors (6 non-independent directors). Deputy Independent Non-Executive Chairman Desterio Oyatsi was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Sep 09
Upcoming dividend of KSh2.00 per share Eligible shareholders must have bought the stock before 16 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 13%. Within top quartile of Kenyan dividend payers (9.6%). Higher than average of industry peers (8.9%). Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: KSh2.65 (vs KSh1.11 in 2Q 2021) Second quarter 2022 results: EPS: KSh2.65 (up from KSh1.11 in 2Q 2021). Revenue: KSh12.8b (up 42% from 2Q 2021). Net income: KSh4.36b (up 139% from 2Q 2021). Profit margin: 34% (up from 20% in 2Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • May 09
First quarter 2022 earnings released: EPS: KSh2.07 (vs KSh1.72 in 1Q 2021) First quarter 2022 results: EPS: KSh2.07 (up from KSh1.72 in 1Q 2021). Revenue: KSh10.6b (up 16% from 1Q 2021). Net income: KSh3.41b (up 20% from 1Q 2021). Profit margin: 32% (up from 31% in 1Q 2021). The increase in margin was driven by higher revenue. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Deputy Independent Non-Executive Chairman Desterio Oyatsi was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 25
Third quarter 2021 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2021 results: EPS: KSh1.13 (up from KSh0.071 loss in 3Q 2020). Revenue: KSh8.90b (up 47% from 3Q 2020). Net income: KSh1.87b (up KSh1.98b from 3Q 2020). Profit margin: 21% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 7.5%. Upcoming Dividend • Sep 22
Upcoming dividend of KSh0.75 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 12 October 2021. Trailing yield: 5.4%. Lower than top quartile of Kenyan dividend payers (7.6%). Higher than average of industry peers (4.7%). Reported Earnings • Aug 31
Second quarter 2021 earnings released: EPS KSh1.11 (vs KSh0.74 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: KSh9.02b (up 38% from 2Q 2020). Net income: KSh1.82b (up 82% from 2Q 2020). Profit margin: 20% (up from 15% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • May 28
First quarter 2021 earnings released: EPS KSh1.72 (vs KSh0.99 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: KSh9.19b (up 29% from 1Q 2020). Net income: KSh2.84b (up 74% from 1Q 2020). Profit margin: 31% (up from 23% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Apr 04
Full year 2020 earnings released: EPS KSh2.77 (vs KSh7.88 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: KSh26.0b (up 15% from FY 2019). Net income: KSh4.57b (down 42% from FY 2019). Profit margin: 18% (down from 35% in FY 2019). Is New 90 Day High Low • Dec 22
New 90-day high: KSh23.85 The company is up 4.0% from its price of KSh23.00 on 23 September 2020. The Kenyan market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is down 1.0% over the same period. Reported Earnings • Dec 03
Third quarter 2020 earnings released: KSh0.071 loss per share The company reported a poor third quarter result with weaker earnings and control over expenses, although revenues were flat. Third quarter 2020 results: Revenue: KSh6.05b (flat on 3Q 2019). Net loss: KSh112.5m (down 105% from profit in 3Q 2019). Is New 90 Day High Low • Dec 02
New 90-day low: KSh21.70 The company is down 7.0% from its price of KSh23.30 on 03 September 2020. The Kenyan market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is down 5.0% over the same period.