National Bank of Kenya (NBK) has posted a profit after tax of Ksh828 million for the financial year ending December 31, 2022.
The Bank maintained strong operational performance, reporting an operating income growth of 13% to Ksh11.7 billion compared to Ksh10.2 billion recorded in 2021. The impressive revenue growth was contributed by both net interest income and non-funded income.
During the period under review, the Bank’s net interest income increased by 10% to Ksh9.1 billion, mainly contributed by higher lending. The non-funded income stream registered a 29% growth to Ksh2.6 billion, mainly driven by growth from new businesses such as bancassurance and trade finance.
“Despite a challenging operating environment characterized by slowdown in business activity in an election year, rising inflation, currency pressures and geopolitical risks that affected both the global and local economy, we delivered good results, demonstrating our continued strategic focus to deliver innovative and bespoke financial solutions to various customer segments,” said NBK Managing Director George Odhiambo.
