NAIROBI, Kenya- NCBA turned the spotlight on its top vehicle dealers and insurance partners during the annual Johari Awards at Ole Sereni, Nairobi, celebrating a year of impactful collaboration and impressive growth.
Speaking at the gala, NCBA Group Managing Director John Gachora emphasized the bank’s commitment to strategic partnerships as the backbone of its market leadership.
“These awards showcase our commitment to secure your growth by forging partnerships and delivering innovative solutions. Our latest 37pc market share in asset finance, a 30pc partnership expansion, and 18pc growth in retail asset finance disbursements are a true testament to the power of collaboration,” Gachora noted.
This year’s awards come on the heels of NCBA’s Q3 2024 financial results, which reported a KES 15.1 billion profit after tax—a 3pc increase from the KES 14.6 billion recorded in the same period last year.
NCBA’s strategic acquisition of AIG Kenya, now rebranded as NCBA Insurance, emerged as a game-changer in its growth trajectory.
Gachora highlighted how the move has bolstered the bank’s position in the financial services sector, allowing it to tap into Kenya’s KES 309 billion insurance market.
Beyond insurance, NCBA’s non-banking subsidiaries—including Bancassurance and Leasing—also reported positive profitability, contributing 3pc of the Group’s profit before tax (PBT).
“We’ve created room for our partners to thrive even in a volatile economic environment,” Gachora said. “These awards underscore our collective success in strengthening NCBA’s leadership and expanding access to world-class financial solutions.”
The Johari Awards weren’t just about the grand gala. NCBA hosted seven mini galas across the country ahead of the main event, connecting with regional dealers and fostering a sense of inclusivity in line with the bank’s diversity agenda.
Gachora, who also chairs the Kenya Bankers Association (KBA), reassured vehicle dealers about the banking industry’s resilience amidst recent rumors of instability. “The sector remains stable, adequately capitalized, and well-positioned to support businesses,” he affirmed.
