National Bank of Kenya (NBK), which was acquired by Access Bank of Nigeria last year, recorded Ksh1.03 billion in profit after tax for the first quarter ending 31st March 2026, representing a 275% growth compared to Ksh275.7 million recorded during a similar period last year, driven by net interest income and a substantial reduction in credit impairment charges.
Net interest income increased to Ksh2.84 billion from Ksh2.4 billion in Q1 2025, supported by disciplined asset pricing and improved funding efficiency. Non-interest income remained resilient at Ksh664.3 million, reflecting consistent performance in fees and commissions despite a competitive operating environment.
Operating expenses were maintained at Ksh2.1 billion, supported by ongoing cost management and operational efficiency initiatives. Meanwhile, loan loss provisions declined significantly by 92% to Ksh50 million, down from Ksh 618 million in the prior year. This was driven by a year-on-year reduction in non-performing loans, improved recoveries, and enhanced credit quality.
NBK’s balance sheet remained strong, with total assets increasing to Ksh145.3 billion from Ksh141.1 billion in December 2025. Customer deposits stood at Ksh106.7 billion, underscoring continued customer confidence and providing a stable funding base for growth. Net loans and advances increased to Ksh57.0 billion from Ksh51.0 billion in December 2025, reflecting continued support for customers and businesses across key sectors.
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National Bank of Kenya MD George Odhiambo said it has started off the year strong, driven by customer confidence, cost management and operations efficiency initiatives. “We are reinventing ourselves in the market to come out stronger, and I am confident that by the end of the year, we will be at a higher level,” Mr Odhiambo said.
He said NBK remains focused on delivering sustainable growth while strengthening its digital capabilities and maintaining disciplined risk management. NBK is well-positioned to build on its strong start to the year by leveraging improved asset quality, operational efficiency gains, and integration processes within Access Bank PLC, he added.
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