NCBA celebrated its strategic alliances with vehicle dealers and insurance partners at the prestigious Johari Awards gala held at Ole Sereni Hotel, Nairobi.

The annual event highlighted the bank’s dedication to strengthening partnerships and innovation in the financial sector.

John Gachora, the NCBA Group Managing Director, praised the role of collaboration in driving the company’s achievements.

“These awards showcase our commitment to secure your growth by forging strategic partnerships alongside providing innovative solutions," Gachora stated.

He further revealed that NCBA now commands a 37 per cent share of the asset finance market, with partnerships growing by 30 per cent and retail asset finance disbursements increasing by 18 per cent.

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The awards capped off a year of growth, including the bank’s acquisition of NCBA Insurance (previously AIG Kenya).

Gachora described this move as transformative, noting that it had expanded the bank’s reach within Kenya’s Sh309 billion insurance sector.

"This strategic move has strengthened our position in the sector and expanded our ability to offer world-class financial solutions," Gachora added.

John Gachora. PHOTO/COURTESY

Financial Success and Regional Engagement

Releasing its Q3 2024 financial results last week, NCBA reported a profit after tax of Sh15.1 billion, a 3 per cent increase from Sh14.6 billion during the same period last year.

Subsidiaries such as Bancassurance, Leasing, and NCBA Insurance contributed 3 per cent to the group’s profit before tax, reinforcing the bank’s multi-pronged growth strategy.

Ahead of the Nairobi gala, NCBA hosted seven regional mini-galas to engage with partners and enhance inclusivity.

This approach aligned with the bank’s focus on diversity and creating a sense of belonging among stakeholders.

Industry Resilience and Assurance

Gachora, who also chairs the Kenya Bankers Association, assured attendees that the banking industry is robust and well-capitalised despite recent misinformation about its stability.

He reiterated NCBA’s commitment to empowering partners and fostering growth even in a challenging economic environment, stating, “We have done our best to ensure our partners have room to operate with ease, and they have not let us down.”

The Johari Awards celebrated not only the achievements of NCBA but also the collaborative spirit that has driven its success.

As the bank looks to the future, its focus on partnerships and innovation continues to define its impact on Kenya’s financial landscape.