What NCBA Group does

NCBA Group PLC is a publicly listed Kenyan financial services conglomerate (NSE: NCBA) headquartered in Nairobi, operating across five African countries — Kenya, Uganda, Tanzania, Rwanda, and Ivory Coast — and serving more than 60 million customers through 123 branches and digital channels. The group operates as a universal bank, offering retail, SME, corporate, and institutional banking; asset finance; investment banking and wealth management (KES 101.5 billion AUM across 60,000+ wealth customers); insurance distribution through NCBA Insurance and NCBA Bancassurance; and digital banking via the LOOP subsidiary and Safaricom-partnered Fuliza and M-Shwari products. NCBA holds a 32% market share in Kenya's asset finance segment and processed KES 1.4 trillion in digital loans across Sub-Saharan Africa in FY2025.

The company's technology infrastructure is centered on a hybrid cloud-and-on-premise platform, with the upgraded ConnectPlus corporate banking platform running on Intellect's eMACH.ai cloud-based wholesale banking technology. NCBA was the first bank in East and Central Africa to achieve ISO/IEC 27701 and ISO/IEC 27001 dual certification, supports 99.74% service uptime, and processes 98% of transactions digitally. Strategic technology partners include Huawei for digital transformation and Intellect for wholesale banking cloud, while AI is applied to credit scoring and onboarding rather than as a standalone product.

NCBA's revenue model is diversified across net interest income (lending, mortgages, asset finance), digital lending fees (Fuliza, M-Shwari, NCBA BOOSTA), transaction banking fees, investment banking and wealth management fees, insurance premiums (KES 5.0 billion GWP in Q1 2026), and asset finance leasing. The group generated KES 73.3 billion in operating income (+17% YoY) and KES 23.4 billion in net profit (+7% YoY) for FY2025, with a 21.8% capital adequacy ratio and 18.4% ROAE. Distribution is hybrid: physical branches, agency banking, mobile apps, USSD, and embedded finance via the M-Pesa ecosystem. The proposed acquisition of a 66% stake by South Africa's Nedbank Group for ~$855.5 million, pending regulatory approvals, is the most significant corporate event in the company's history.

Name

NCBA Group

Legal name

NCBA Group PLC

Website

https://ncbagroup.com

Company type

Public

Founded year

1959

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

NCBA Group PLC is a Nairobi-headquartered East African banking conglomerate serving 60+ million retail, SME, corporate, and institutional customers across Kenya, Uganda, Tanzania, Rwanda, and Ivory Coast through 123 branches, digital platforms, and M-Pesa partnerships.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Offices of Bank Holding Companies (551111), Portfolio Management and Investment Advice (523940)

SIC

State Commercial Banks (6022), National Commercial Banks (6021)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

Account & Balance Services (Operating accounts, statements, eBAM) (FSABAIAD), Consumer & Retail (CPG, Food, Apparel) (FSABACAM), Customer Servicing & Contact Center Operations (Service Requests, Complaints) (FSABALAK)

Keywords

• Retail banking services
• Digital lending products
• Asset finance financing
• Corporate banking solutions
• Wealth management services

Headquarters

HQ city

Nairobi

HQ country

Kenya

HQ region

Africa

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Net Interest Income: Interest income from lending activities including personal loans, mortgages, asset finance, corporate lending, and overdraft facilities. Interest expense paid on customer deposits.
2. Digital Lending Disbursements: Fees and interest from digital lending products including Fuliza overdraft (KES 1.4 trillion disbursed in 2025, 33% growth), M-Shwari, personal loans, and NCBA BOOSTA.
3. Transaction Banking Fees: Fees from transaction processing, bulk payments, API integrations, mobile money, cash management, and forex services.
4. Investment Banking Services: Revenue from brokerage, wealth management (AUM KES 101.5 billion), advisory services, capital markets, and custodial services.
5. Insurance Products: Bancassurance, NCBA Insurance, and NCBA Bancassurance subsidiaries providing life, health, property, and casualty insurance. Gross Written Premiums of KES 5.0 billion.
6. Asset Finance and Leasing: Income from vehicle financing, equipment leasing, and related services. NCBA leads with 32% market share in asset finance.
7. Digital Banking Subscription: Fees from digital banking platforms including NCBA NOW, Internet Banking, NCBA Connect, NCBA ConnectPlus, and USSD mobile banking.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

NCBA Group operates as a full-service banking and financial services conglomerate providing retail, SME, corporate, institutional, and investment banking services across East Africa (Kenya, Uganda, Tanzania, Rwanda) and Ivory Coast. Its core offerings span current and savings accounts, personal and business loans, asset finance (with 32% Kenyan market share), trade finance, treasury and forex, investment banking and wealth management, bancassurance and insurance, leasing, and digital banking products (LOOP, NCBA Connect, NCBA ConnectPlus, Fuliza, M-Shwari). The group serves over 60 million customers through a 123-branch network and digital-first channels, with 98% of transactions processed digitally.

Product overview

NCBA Group operates as a full-service banking group providing a comprehensive range of financial products and services to corporate, institutional, SME, and consumer banking customers across Kenya, Uganda, Tanzania, Rwanda, and Ivory Coast. The group's product portfolio spans core banking (NCBA Bank Kenya), digital banking (NCBA Connect, NCBA ConnectPlus, LOOP, NCBA NOW), mobile lending (M-Shwari, Fuliza Mpesa, Stawi, NCBA Boosta), and specialized services including leasing (NCBA Leasing LLP), investment banking (NCBA Investment Bank), insurance distribution (NCBA Bancassurance, NCBA Insurance), and digital marketplaces (CarDuka). With over 60 million customers and operations across 5 African countries, NCBA Group is the largest banking group in Africa by customer numbers and a market leader in corporate banking, asset finance, and digital banking.

Differentiator

Problem solved

Functional benefit

Brands

• LOOP: Digital banking service operated by NCBA Bank, offering device financing and digital financial services
• Fuliza
• M-Shwari
• ConnectPlus
• CarDuka
• NCBA BOOSTA

Products and services

• NCBA Bank Kenya The primary banking platform of NCBA Group in Kenya, providing comprehensive financial products and services to corporate, institutional, SME, and consumer banking customers. Serves as the main profitability driver for the group, offering digital and branch-based banking services across Kenya, Uganda, Tanzania, Rwanda, and Ivory Coast.
• NCBA ConnectPlus Upgraded corporate and SME transaction banking platform powered by Intellect's eMACH.ai cloud-based wholesale banking technology, offering faster transaction processing, advanced security protocols, and comprehensive suite of local and international banking products with API integration capabilities.
• NCBA Connect (Internet and Mobile Banking) Primary internet and mobile banking application enabling customers to remotely manage accounts, conduct transactions, and access banking services 24/7.
• LOOP Digital Banking NCBA's digital-only banking subsidiary offering mobile-first financial services, including Buy Now Pay Later device financing with embedded insurance protection (theft, accidental damage, liquid damage, mechanical breakdown, extended warranty) in partnership with Bolttech.
• NCBA NOW (USSD Mobile Banking) USSD-based mobile banking service (*334#) enabling access to banking services on feature phones without internet connectivity.
• Fuliza M-Pesa Overdraft Overdraft facility accessible through Safaricom's M-Pesa platform, providing credit to customers based on transaction history and account standing. Kenya's largest digital overdraft product, with KES 1.24 trillion disbursed in 2025 (37.8% YoY growth).
• M-Shwari Mobile Lending Mobile savings and loan platform operated in partnership with Safaricom, providing accessible financial services to mobile money users in Kenya through the M-Pesa ecosystem.
• Stawi Digital Lending Digital lending application for small businesses providing accessible credit solutions through mobile channels.
• NCBA BOOSTA SME Lending Digitally accessible SME lending product designed to accelerate MSME financing. Disbursements of KES 8.3 billion reported in Q1 2026.
• NCBA Leasing LLP Equipment and asset leasing services for SMEs, corporates, and government organizations with flexible lease terms, supporting vehicle and equipment financing.
• NCBA Investment Bank Full-service investment banking offering brokerage, wealth management (KES 101.5 billion AUM), and advisory services including equities, fixed income, derivatives, online share trading, pension fund management, segregated portfolios, and unit trusts.
• NCBA Bancassurance Bancassurance channel distributing insurance products through the bank's branch network across Kenya, Uganda, Tanzania, Rwanda, and Ivory Coast.
• NCBA Insurance Insurance products and services including health, travel, life, personal accident, property, and vehicle coverage, offered to retail and corporate customers.
• AIG Kenya Insurance Acquired insurance company providing life and general insurance products, now operating as a majority-owned subsidiary of NCBA Group with 2.14% market share in Kenya's insurance industry.
• CarDuka Digital Vehicle Market Digital vehicle trading platform enabling vehicle financing, sales, and purchases. Has onboarded close to 7 million users across East Africa.
• NCBA Easy Build Construction Loan Construction and home building loan product supporting property development and homeownership, including the innovative Solar Leasing Solution unveiled on the annual Property Investment Tour.
• NCBA AFAWA Women SMEs Acceleration Programme Dedicated financing and accelerator programme for women-led SMEs, offering structured financing, capacity building, and investment pitching opportunities. Has unlocked $1.365 million in financing for 82 women-owned SMEs across two cohorts, primarily in agricultural value chains.

Quantifiable outcome

• Digital business accounts for 32% of group profitability with KES 1.4 trillion in digital loans disbursed
• +5 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eleven partnerships are on record, tiered core, strategic and minor.

• ePure MotioncoreStrategic or Co-development Partner · 18 July 2026Strategic partnership to provide tailored financing solutions for electric vehicles in Kenya, covering both private passenger EVs and public transport sector (matatus). Qualifying salaried customers can access up to 100% financing with repayment periods up to 72 months; PSV SACCOs and companies can obtain up to 80-90% financing for 16-seater electric matatus. Part of NCBA's KES 2 billion e-mobility financing programme.
• HuaweistrategicTechnology or Integration · 3 June 2026Huawei partnership for digital transformation roadmap including cloudification, mobility, and AI-driven banking transformation. Huawei's partnerships elevated core system availability from 98.5% to 99.99% across Sub-Saharan African financial institutions. NCBA participated in the 2026 Sub-Saharan Africa Intelligent Finance Summit hosted by Huawei.
• Dong Feng Africa Regional Headquarters and Longtai AutominorStrategic or Co-development Partner · 30 May 2026NCBA Rwanda hosted courtesy visit with Dong Feng Africa Regional Headquarters and Longtai Auto to explore expanding electric vehicle adoption in Rwanda. Discussions focused on financing mechanisms to accelerate EV adoption, particularly for taxi operators seeking affordable and sustainable transport options.
• Salvador Caetano Kenya LimitedcoreChannel Partner/ Reseller/ Distributor · 15 May 2026Strategic partnership to offer asset financing for internal combustion engine (ICE) and electric vehicles in Kenya. Scheme provides up to 100% financing for personal vehicles, up to 95% for commercial vehicles, and includes EV-specific options, supporting Kenya's move towards sustainable mobility.
• Kenya Seed CompanycoreStrategic or Co-development Partner · 11 March 2026Co-hosted agribusiness forum in Kitale, Kenya with over 150 maize seed farmers to improve access to financing, boost productivity, and strengthen market linkages. Event in Trans-Nzoia County featured financial literacy training and NCBA agribusiness financing solutions including structured livestock financing, asset finance partnerships, and trade finance instruments for agricultural exporters.
• HEVA FundcoreStrategic or Co-development Partner · 10 December 2025Strategic partnership to expand access to affordable financing for creative entrepreneurs in Kenya, delivering financial products tailored to unique cash-flow patterns and growth cycles of creative enterprises. Partnership plans to disburse KES 900 million to creative MSMEs by end of 2026. Leverages shared-risk financing approach.
• Intellect (eMACH.ai)strategicTechnology or Integration · 4 November 2025NCBA upgraded its online Corporate Banking platform (ConnectPlus) deploying Intellect's cloud-based eMACH.ai Wholesale Banking Cloud technology. Platform enhances transaction speed, security, user experience, and product offerings for corporate and SME customers, supporting NCBA's goal to be a leading digital bank.
• BolttechcoreTechnology or Integration · 1 September 2025Global insurtech Bolttech entered Kenyan market through partnership with LOOP (NCBA's digital banking service) to launch LOOP Flex Device Financing combining Buy Now Pay Later financing with embedded device protection covering theft, accidental damage, liquid damage, mechanical breakdown, and extended warranty.
• Mobikey Truck & Bus LtdcoreChannel Partner/ Reseller/ Distributor · 5 August 2025Partnership to provide comprehensive asset financing solutions for trucks and construction equipment in Kenya, offering financing up to 100% for new assets and 80% for used assets with up to 60 days moratorium. Targets business owners in logistics, transportation, construction, agriculture, and SME sectors.
• American International Group Inc (AIG)coreStrategic or Co-development Partner · 2 July 2024NCBA acquired 66.67% stake in AIG Kenya from American International Group Inc, gaining full control of the insurer. The acquisition aims to expand NCBA's presence in Kenya's $2.3 billion insurance industry and increase insurance penetration in the country amid low insurance penetration.
• SafaricomcoreTechnology or IntegrationPartnership for Fuliza overdraft service and M-Shwari mobile savings and loan platform through M-Pesa ecosystem. Fuliza disbursements reached KES 1.24 trillion in 2025 (37.8% growth YoY), making it Kenya's largest digital overdraft product.

Scale indicators19 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Equity Group Holdings: Largest bank by customer base in Kenya after NCBA, with similar East African footprint (Kenya, Uganda, Tanzania, Rwanda, DRC, South Sudan) and overlapping retail, SME, and digital banking franchise including the Equitel mobile money platform.
• KCB Group: Kenya's largest bank by assets with comparable regional East African footprint (Kenya, Uganda, Tanzania, Rwanda, Burundi, South Sudan, DRC). Direct competitor across retail, SME, and corporate banking with strong digital and agent banking channels.
• Co-operative Bank of Kenya: Major Kenyan commercial bank with significant retail, SME, and corporate banking franchise. Comparable scale, multi-channel distribution model, and similar target customer segments in Kenya and regional markets.
• Absa Bank Kenya: Subsidiary of Absa Group (formerly Barclays Africa) operating retail, corporate, and investment banking in Kenya. Comparable full-service commercial banking model with similar product breadth and digital transformation agenda.
• Standard Chartered Bank Kenya: Kenya subsidiary of Standard Chartered PLC with strong corporate, institutional, and trade finance capabilities, plus retail banking. Overlaps significantly with NCBA's corporate and institutional banking segment and wealth management.
• Stanbic Holdings (Kenya): Kenya subsidiary of Standard Bank Group (South Africa) offering corporate, investment, and retail banking. Direct overlap with NCBA's corporate banking, treasury, and investment banking segments.

Regional players

• Bank of Kigali: Largest bank in Rwanda, one of NCBA's operating geographies. Comparable product mix (retail, SME, corporate) but smaller scale; competes with NCBA Rwanda for the same institutional and retail customers.
• CRDB Bank: Largest Tanzanian commercial bank operating in another of NCBA's core markets. Comparable retail, SME, and corporate banking focus; competes with NCBA Tanzania for cross-border trade and corporate clients.

Broad incumbents

• Nedbank Group: South Africa's fourth-largest bank by assets and the proposed majority acquirer of NCBA. Provides direct comparison on corporate, retail, and digital banking at a larger scale and broader geographic footprint (Southern Africa).

Others

• Safaricom (M-Pesa): Telecom operator whose M-Pesa platform powers Fuliza and M-Shwari—NCBA's largest digital lending products. While not a bank, Safaricom is the most strategically important partner and embedded-finance counterparty in NCBA's digital ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/NCBABankKenya

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NCBA Group