NCBA Group reported a 7% rise in profit after tax (PAT) to KSh 23.4 billion in FY25, up from KSh 21.9 billion in FY24, with dividends increasing 29% to KSh 7.10 per share just ahead of the partial takeover by Nedbank.
According to NCBA directors, the Board has proposed a final dividend of KSh 4.60 per share for FY25, to be approved at the upcoming Annual General Meeting on 26th May 2026.
This payment, combined with the interim dividend of KSh 2.50 per share paid on 2nd October 2025, brings the total dividend for 2025 to KSh 7.10 per share, up from KSh 5.50 per share in 2024.
“The dividend will be payable to the shareholders registered on the Company’s register at the close of business on 30th April 2026 (the record date for dividend entitlement), with payment to be made on or immediately after 26th May 2026,” the bank noted.
On January 21, Nedbank announced details of its partial takeover offer for NCBA Group, revealing which shareholders will receive cash rather than Nedbank shares and the conditions under which the offer could be converted into a 100 per cent acquisition.
The bank intends to acquire approximately 1,087,362,891 ordinary NCBA shares, representing about 66 per cent of the issued share capital.
According to the statement, the offer was to be implemented on a partial pro rata basis, allowing each shareholder to tender up to 66 per cent of their holdings, with the option to tender any excess shares on a pro rata basis.
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The consideration per share accepted under the offer will comprise 80 per cent in Nedbank ordinary shares and 20 per cent in cash, with the cash portion set at Ksh 2,100 per share.
“NCBA Shareholders who are institutional owners and cannot invest in Nedbank shares will receive their full consideration in cash,” the statement read.
NCBA Bank FY25 Results
According to the released financial results, NCBA’s operating income rose 16.9% to KSh 73.3 billion, supported by a 27.7% increase in net interest income to KSh 44.1 billion and a 3.8% rise in non-interest income to KSh 29.3 billion, reflecting stronger revenue performance following the Nedbank Kenya takeover.
Further, total assets expanded by 7.5% to KSh 716.0 billion, loans grew 5% to KSh 317.2 billion, and deposits rose 5.9% to KSh 531.9 billion.
Also Read: Nedbank Reveals NCBA Shareholders Who Will Receive Cash and Conditions for 100% Takeover
Provisions increased 46.3% to KSh 8.0 billion, while profit before tax (PBT) rose 10.9% to KSh 27.9 billion, indicating improved operational efficiency under the new ownership structure.
Existing Interests and Control
In an earlier statement on February 9, NCBA confirmed that Nedbank currently holds no shares outside the partial takeover offer and has no existing rights or options to acquire additional shares.
It confirmed that completion of the transaction granted Nedbank effective control of NCBA, with its shareholding potentially exceeding 66% by up to 5% in certain circumstances.
The offer was implemented on a partial pro rata basis, ensuring that all shareholders could tender their shares in proportion.
NCBA added that the offer document provides full details on the pro rata mechanism and conditions for participation, ensuring transparency and regulatory compliance for all shareholders.
