NCBA Bank is a top financial institution in Kenya. It offers a wide range of banking services to people and businesses. The bank was formed in 2019 when NIC Bank and CBA Bank joined forces.
NCBA Bank has over 100 branches and 200 ATMs across Kenya.
This makes it easy for customers to access banking services. The bank also has a strong focus on digital banking.
It offers a user-friendly mobile app and internet banking platform.
The bank aims to help its customers achieve their financial goals. It offers products like savings accounts, loans, and investment options. NCBA Bank is known for its good customer service and innovative banking solutions.
Corporate profile
NCBA Group Plc is a major financial services organization in East and West Africa. The company offers a wide range of banking and financial products to individuals and businesses.
NCBA Group has grown to become one of Kenya’s largest banks through mergers and acquisitions.
Holding company and assets
NCBA Group Plc functions as a non-operating holding company for its banking and financial services subsidiaries. As of December 2023, the group had total assets valued at over KES 734.
This strong financial position allows NCBA to provide capital and support to its various subsidiary operations across the region.
NCBA Group’s key subsidiaries include NCBA Bank Kenya PLC and several other financial services companies. These subsidiaries offer products like retail and corporate banking, asset management, and insurance.
Kenya’s third-biggest bank
NCBA Bank Kenya PLC is now Kenya’s third-largest bank by assets. This position was achieved through the 2019 merger of NIC Group and Commercial Bank of Africa.
The merger combined NIC’s strong corporate banking business with CBA’s leadership in digital banking. NCBA now offers a full range of financial products and services to corporate, small business, and individual customers.
Key facts about NCBA Bank Kenya:
- Founded: 1959 as NIC Group, 2019 (through merger as NCBA Group Plc)
- Branches: Over 100
- ATMs: Over 200
- Mobile app: Yes (NCBA Loop)
- Website: ncbagroup.com
NCBA leverages technology to provide innovative digital banking solutions. Its mobile banking platform allows customers to access services conveniently.
East and West Africa operations
Beyond Kenya, NCBA Group has expanded its presence to other countries in East and West Africa. The group operates banking subsidiaries in:
- Tanzania
- Uganda
- Rwanda
- Ivory Coast
This regional expansion allows NCBA to serve customers across multiple markets. The group can support businesses operating across borders in East and West Africa.
In these countries, NCBA offers similar retail and corporate banking services as in Kenya. The group aims to bring its digital banking expertise to new markets.
Banking services
NCBA Bank offers a wide range of banking services to meet customer needs. These include secure internet banking, retail and investment options, and various card and account services.
Internet Banking and Security
NCBA provides secure online banking for customers. The platform lets users check balances, transfer funds, and pay bills from anywhere.
NCBA uses strong encryption to protect customer data. They never ask for login details via email to prevent fraud.
Customers can access online banking through the NCBA website or mobile app. The app is available for both Android and iOS devices.
Retail and Investment Banking
NCBA offers personal and business banking accounts. Personal accounts include savings, current, and fixed deposit options. Business accounts cater to small firms and large corporations.
For investors, NCBA provides:
- Mutual funds
- Stocks and bonds trading
- Retirement planning
- Wealth management
The bank has financial advisors to help customers choose the right investment products.
Cards and Account Services
The bank issues debit and credit cards to account holders. Debit cards link directly to customer accounts for purchases and ATM withdrawals.
Credit card options include:
- Classic cards for everyday use
- Gold cards with higher limits and perks
- Platinum cards for premium benefits
NCBA also offers:
- Checkbooks
- Mobile banking
- SMS alerts
- Standing orders
Customers can visit branches or use digital channels to manage their accounts and cards.
Loan products
NCBA Bank offers a variety of loan options to meet different financial needs. These include personal loans and mobile banking services that provide quick access to credit.
Consumer loan offerings
They also provide several personal loan products for consumers. These loans have competitive interest rates and flexible payment terms.
The bank offers:
- Overdrafts
- Personal loans
- Salary advances
Interest rates can be either fixed or based on a reducing balance. This means the interest charge decreases as the loan principal is paid down.
Fees may include:
- Administrative fee
- Registration fee
Loan amounts and repayment periods vary based on the specific product and customer qualifications.
M-Shwari mobile banking
M-Shwari is a mobile banking service offered by NCBA in partnership with Safaricom’s M-PESA. It allows customers to save money and access small loans through their phones.
Key features:
- Instant loans via mobile
- No paperwork required
- Loan amounts from 100 to 100,000 Kenyan Shillings
- 30-day repayment period
M-Shwari uses M-Pesa to disburse loans and collect repayments. This makes it very convenient for customers to access credit.
The service also includes Fuliza, an overdraft facility that lets users complete M-Pesa transactions even with insufficient funds.
Key financial information
Regulatory approvals
NCBA Bank operates under the oversight of the Central Bank of Kenya.
The bank received necessary approvals for its merger between NIC Group PLC and Commercial Bank of Africa Limited in 2019.
This merger created NCBA Group PLC, a larger and more robust financial institution. The Central Bank of Kenya closely monitored the process to ensure compliance with banking regulations.
NCBA Bank maintains strict adherence to financial reporting standards. It submits regular audited financial statements to regulatory bodies.
Shareholder information
NCBA Group PLC is listed on the Nairobi Securities Exchange (NSE). The bank has a diverse shareholder base, including institutional and individual investors.
As of December 31, 2023, NCBA Group PLC reported strong financial results. The bank’s total assets reached KES 734 billion, showing significant growth.
NCBA Bank holds annual general meetings to keep shareholders informed. It provides detailed financial reports and updates on the bank’s performance and strategy.
The bank’s dividend policy aims to balance shareholder returns with capital retention for growth. NCBA Group PLC strives to maintain transparent communication with its investors.