company background image

NCBA GroupNASE:NCBA Stock Report

Market Cap







14 Oct, 2021


Company Financials
NCBA fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance2/6
Financial Health4/6

NCBA Overview

NCBA Group PLC offers banking products and services to corporate, institutional, small and medium enterprise, and consumer banking customers.

Price History & Performance

Summary of all time highs, changes and price drops for NCBA Group
Historical stock prices
Current Share PriceKSh25.70
52 Week HighKSh20.60
52 Week LowKSh29.00
1 Month Change-8.21%
3 Month Change-0.96%
1 Year Change10.54%
3 Year Changen/a
5 Year Changen/a
Change since IPO-5.61%

Recent News & Updates

Shareholder Returns

NCBAKE BanksKE Market

Return vs Industry: NCBA underperformed the KE Banks industry which returned 16.6% over the past year.

Return vs Market: NCBA underperformed the KE Market which returned 28.1% over the past year.

Price Volatility

Is NCBA's price volatile compared to industry and market?
NCBA volatility
NCBA Beta0.61
Industry Beta0.56
Market Beta1

Stable Share Price: NCBA is not significantly more volatile than the rest of KE stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: NCBA's weekly volatility (3%) has been stable over the past year.

About the Company

19592,392John Gachora

NCBA Group PLC offers banking products and services to corporate, institutional, small and medium enterprise, and consumer banking customers. It provides retail, corporate, brokerage, bancassurance, property, and investment banking services. The company also offers deposits, car financing, and home loans; asset, working capital, insurance premium, and trade finance solutions; health, general, and life insurance products; and transactional, debt, and investment solutions.

NCBA Group Fundamentals Summary

How do NCBA Group's earnings and revenue compare to its market cap?
NCBA fundamental statistics
Market CapKSh41.76b
Earnings (TTM)KSh6.66b
Revenue (TTM)KSh30.22b


P/E Ratio


P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NCBA income statement (TTM)
Cost of RevenueKSh0
Gross ProfitKSh30.22b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date


Earnings per share (EPS)4.04
Gross Margin100.00%
Net Profit Margin22.05%
Debt/Equity Ratio9.8%

How did NCBA perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio


Is NCBA Group undervalued compared to its fair value and its price relative to the market?


Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate NCBA's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate NCBA's fair value to establish if it is undervalued.

Price To Earnings Ratio

PE vs Industry: NCBA is poor value based on its PE Ratio (6.4x) compared to the KE Banks industry average (6.1x).

PE vs Market: NCBA is good value based on its PE Ratio (6.4x) compared to the KE market (6.6x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate NCBA's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: NCBA is good value based on its PB Ratio (0.6x) compared to the KE Banks industry average (0.9x).

Future Growth

How is NCBA Group forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?


Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as NCBA Group has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has NCBA Group performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NCBA has high quality earnings.

Growing Profit Margin: NCBA's current net profit margins (22%) are lower than last year (30.7%).

Past Earnings Growth Analysis

Earnings Trend: NCBA's earnings have grown by 3% per year over the past 5 years.

Accelerating Growth: NCBA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: NCBA had negative earnings growth (-17.6%) over the past year, making it difficult to compare to the Banks industry average (-5.6%).

Return on Equity

High ROE: NCBA's Return on Equity (8.9%) is considered low.

Financial Health

How is NCBA Group's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: NCBA's Assets to Equity ratio (7.3x) is low.

Allowance for Bad Loans: NCBA has a low allowance for bad loans (51%).

Low Risk Liabilities: 95% of NCBA's liabilities are made up of primarily low risk sources of funding.

Loan Level: NCBA has an appropriate level of Loans to Assets ratio (44%).

Low Risk Deposits: NCBA's Loans to Deposits ratio (54%) is appropriate.

Level of Bad Loans: NCBA has a high level of bad loans (16.7%).


What is NCBA Group current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: NCBA's dividend (5.84%) is higher than the bottom 25% of dividend payers in the KE market (4.2%).

High Dividend: NCBA's dividend (5.84%) is low compared to the top 25% of dividend payers in the KE market (7.76%).

Stability and Growth of Payments

Stable Dividend: NCBA has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: NCBA has only been paying a dividend for 2 years, and since then payments have fallen.

Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (58.2%), NCBA's dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average board tenure


John Gachora (53 yo)

no data




Mr. John M. Gachora has been Group Managing Director at NIC Bank Limited since September 2013. He serves as Group MD & Director at NCBA Bank Kenya Plc. Mr. Gachora serves as Group Managing Executive Direct...

CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD735.21K) is about average for companies of similar size in the KE market ($USD709.54K).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.

Board Members

Experienced Board: NCBA's board of directors are not considered experienced ( 1.9 years average tenure), which suggests a new board.


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

NCBA Group PLC's employee growth, exchange listings and data sources

Key Information

  • Name: NCBA Group PLC
  • Ticker: NCBA
  • Exchange: NASE
  • Founded: 1959
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: KSh41.765b
  • Shares outstanding: 1.65b
  • Website:

Number of Employees


  • NCBA Group PLC
  • NCBA Centre
  • Mara and Ragati Road
  • Nairobi
  • 100
  • Kenya


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/14 15:41
End of Day Share Price2021/10/14 00:00
Annual Earnings2020/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.