Uhuru amefanya kazi zaidi.
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Just two years after the NIC Bank and CBA Bank merger, NCBA is now the largest lender by customer base.
By the time of the merger, the Kenyatta family controlled 24.9 percent of CBA through an investment vehicle called Enke Investments Limited.
Other shareholders in the bank are billionaire businessman Naushad Meralia linked to Yana Investments that owned 11.14 percent, Ropat Nominees (22.5 percent), Ropat Trust (5.37 percent) and Livingstone Registrars with 19.9 percent.
The rest are held by other institutions and individuals.
On the other hand, NIC was owned by the Ndegwa family through First Chartered Securities with 15.84 percent, ICEA Asset Management Ltd, also partly owned by the family, had 9.16 percent and Livingstone Registrars with 8.73 percent
NCBA chief executive John Gachora has dismissed critics who attribute its meteoric rise to the current regime.
The Kenyattas have a 13.2 percent stake in NCBA while the family of the late Phillip Ndegwa owns 11.75 percent.
The bank has been focused on lending through digital products including Fuliza, Mshwari and Loop, minting revenues through fees and interest, just like most local banks.
The bank lent over Sh423 billion in the nine months to September through Fuliza (Sh346 billion) Mshwari (Sh66) and the rest distributed between Loop, Mokash Uganda, Mokash Rwanda and M-Pawa in Tanzania.
“Every 10 cars on loans on road, four of them are financed by NCBA across the country,” Mr Gachora said.
https://www.businessdailyafrica.com/bd/data-hub/inside-meteoric-rise-of-ncba-tier-one-lender-3674182