#1
NCBA
Since the merger of the NIC and Commercial Bank of Africa (CBA) leading to the birth of NCBA in 2019, this leading bank and financial services brand has been on the up and up, showcasing its enviable position as a true market leader in Corporate Banking, Asset Finance, and Digital Banking.
Other than Kenya, NCBA is present through subsidiaries in Rwanda, Uganda, and Tanzania, as well as an entirely digital banking market in Côte d’Ivoire. It celebrates an impressive 60 million customers continent-wide. The exemplary and progressive leadership provided by the Managing Director (MD) John Gachora continuously and steadily steers NCBA towards its undeniable success. John has not only maintained the momentum of the rebrand but has also driven NCBA’s performance, generating even more value for both shareholders and customers of NCBA Bank.
Equally, the rebrand has resulted in a healthier and more amicable working environment, which, in turn, has facilitated the recruitment of high caliber professionals who take pride in being part of NCBA.
Muriuki during the release of the lender’s Q3 financial results at the Fairmont Norfolk in November , 2022.
In the Bank’s 2022 performance review, NCBA reported an outstanding profit before tax of KES 22.5 billion, almost five times the value of what it achieved in its first annual report in 2020, when the amount stood at KES 4.97 billion.
Keeping its customers at the heart of its operations, NCBA is driven by its promise to offer exceptional innovative products and services that are tailored to each customer’s specific needs; from personal banking products to scalable business banking solutions.
As part of its strategic priorities, NCBA has been on an unwavering trajectory of scaling its retail footprint to increase customer accessibility. For instance, in 2021, there were 103 branches distributed among 22 counties throughout the country, whilst 2022 witnessed 118 branches distributed among 36 of the 47 Kenyan counties.
The new branches are cost efficient, being 33 percent smaller in size, while remaining aesthetically-pleasing. This has seen a 10 percent growth in retail banking, with 236,000 users in 2021 and 260,000 users by the end of 2022.
The expansion of NCBA’s branch network has not only increased brand recognition but also attracted a fresh influx of customers and fostered stronger loyalty among its existing customer base. Having maintained a competitive edge for nearly 60 years in Asset Finance, NCBA is consistently coming up with superior products.
For example, it was the first bank to provide electric vehicle financing: a classic example of its relentless plays in innovation as well as its dedication to sustainability. This is further exemplified by the bank’s KES 2 billion loan portfolio dedicated to electric vehicle financing.
In 2022, NCBA successfully consolidated its mobile banking applications into a unified platform, and the NCBA Mobile Banking app is one of the highest rated in Kenya. Some of the channel enhancements include a silent one-time-password (OTP), which has gotten rid of reliance on telcos for SMS delivery; customizable menus; transaction advices and messaging; automated foreign exchange (FX) counter rates, among others.
The popular app currently has a rating of 4.8 out of 5 on the Google Play Store, up from 3.7 in 2020. With 80 percent of the bank’s payment transactions processed through mobile banking in 2022, the transactional value stood at KES 116.6 billion, from 46.9 billion in 2020.
Ranked on the LinkedIn Top Companies series among one of the 25 best workplaces to grow a career in 2023, NCBA is cognizant of its employees’ needs to grow and attain their highest levels of success. The bank brand made 486 appointments and/or promotions in the year of 2022, and 30 interns were converted to entry-level staff. It is also important to note that the bank is committed to providing equal opportunities, with 51 percent of its workforce being female employees.
NCBA is actively working towards a sustainable future by building upon its capabilities and restructuring its business. Last year, the company focused on four key areas: Gender, Environment, Financial Inclusion, and Green Financing, and made significant strides in each pillar.
For instance, the bank’s dedication to financial inclusion is evident in its growing number of digital customers. Some of the distinctive qualities that define NCBA’s financial solution excellence include: the bank’s culture of customer centricity; integrated core banking platform; strong relationship management; digital leadership; innovative and tailored products; first-class turnaround times; data-driven personalized service; value added services; and a regional market presence.
Last year saw NCBA receive a number of accolades. For instance, the bank was ranked 3rd Best in Customer Experience (Tier 1) by Kenya Bankers Association (KBA); among the Top 10 Most Valuable Brands in Kenya by Brand Finance; Best Bank in Kenya 2022 by Global Finance magazine; Best Bank in Kenya 2022 by Abojani Investments; among the Top 25 Most Transformative Brands Impacting Business by the Business Monthly EA, and 5th Best Employer by the LinkedIn Top Companies series.
With the comprehensive range of banking solutions that cater to the diverse needs of its customers, NCBA has cemented itself as a customer- obsessed brand in Kenya.
