May 9, 2025
NCB Financial Group Limited (NCBFG)
Unaudited financials for the six months ended March 31, 2025:
NCB Financial Group Limited (NCBFG) for the six months ended March 31, 2025, reported a 6% increase in interest income totaling $62.45 billion compared to $58.90 billion in the corresponding period last year. Interest Income for the second quarter had a 3% increase to close at $30.43 billion compared to $29.53 billion for the comparable quarter of 2024.
Interest Expense amounted to $23.48 billion (2024: $22.49 billion), this represents an increase of 4% year over year. Consequently, net interest income increased by 7% to $38.97 billion compared to $36.41 billion for the six months ended March 31, 2024. The company booked net interest income of $18.99 billion for the second quarter versus $18.47 billion reported for the similar quarter of 2024.
Net fee and commission income decreased by 1% to close at $15.35 billion (2024: $15.48 billion), while net result from Banking and Investment Activities increased by 24% from $63.66 billion in 2024 to $78.94 billion in the period under review. Also, net expenses from insurance activities for the six months ended March 31, 2025, amounted to $1.68 billion, same as last year.
Consequently, Net operating income for the six months ended March 31, 2025, amounted to $77.26 billion, a 25% increase relative to $61.99 billion reported in 2024. Net operating income for the second quarter amounted to $42.16 billion (2024: $30.74 billion).
Total operating expenses totalled $51.81 billion an 8% increase from the corresponding period last year. (2024: $47.92 billion).
Operating Profit for the six months ended March 31, 2025, amounted to $25.46 billion, an 81% increase relative to $14.07 billion reported in 2024. Operating Profit for the second quarter amounted to $18.10 billion (2024: $8.98 billion).
Profit before Taxation for the six months ended March 31, 2025, had an 83% increase to reach $26.12 billion (2024: $14.30 billion).
Taxation for the six months amounted to $3.93 billion, a 9% increase from the $3.60 billion reported in 2024. As such, Net Profit increased by 108% to $22.19 billion (2024: $10.69 billion). Net Profit for the quarter totalled $17.04 billion relative to the $7.72 billion booked in the prior year’s quarter.
Net Profit Attributable to Shareholders for the period totalled $13.34 billion, relative to the $6.88 billion reported twelve months prior. For the quarter, Net Profit Attributable to Shareholders amounted to $10.72 billion compared to the $5.58 billion reported in 2024.
NCBFG highlighted that the group’s performance during the second quarter was largely impacted by the sale of Thoma Exploitie B.V. (Thoma Group), the Netherlands insurance brokerage business of GHL. The divestment contributed $15.1 billion and $9.4 billion to the Group’s net earnings and earnings to its shareholders.
Consequently, Earnings Per Share for the six months amounted to $5.16 (2024: EPS: $2.66), while Earnings Per Share for the quarter totaled $4.15 (2024: EPS: $2.16). The twelve-month trailing EPS was $7.66, and the number of shares used in these calculations was 2,584,202,347.
Notably, NCBFG’s stock price closed the trading period on May 08, 2025, at a price of $46.04 with a corresponding P/E ratio of 6.01x.
Balance Sheet Highlights
The company’s assets totalled $2.35 trillion (2024: $2.27 trillion). The growth in total assets can be largely attributed to a $95.29 billion increase in Investment Securities.
Shareholder’s equity was $182.08 billion (2024: $162.23 billion), representing a book value per share of $70.46 (2024: $62.78).
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