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If the long-rumored Stanbic–NCBA merger or buyout becomes reality, NCBA shareholders could emerge as the biggest winners in East Africa’s next major banking shake-up. The market already seems to agree. When news of a possible deal surfaced this week, NCBA’s market value jumped from about UGX 2.9 trillion to UGX 3.15 trillion in a single day, while its share price surged nearly 9%. Year-to-date, the stock has risen 56%, and over the past 12 months, it has gained nearly 78%, a clear sign that investors are betting on a major payout. Large takeovers typically come with a buyout premium of…
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NCBA Bank Uganda posted an 18.4% growth in net profit for the 12 months ended December 2023⏤ a UGX4.3 billion growth from the UGX22.8 billion it posted in 2022, to UGX27 billion in 2023. This is the second successive net profit by the bank since Mark Muyobo assumed its leadership, ending two years of successive post-merger losses. The 2023 growth in net profit was fuelled by a 15.4% growth in customer deposits- from UGX491.3 billion in 2022 to UGX567.1 billion in 2023. The bank also jerked up its lending by 20.1%, from UGX210.6 billion to UGX253 billion. With increased lending,…
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Mark Muyobo, previously the Acting Managing Director & Chief Executive Officer of NCBA Bank Uganda has been confirmed as the substantive head of the bank, CEO East Africa Magazine can exclusively reveal. He has been in an acting capacity since December 2021 when Anthony Ndegwa was recalled to the NCBA Group head office in Nairobi, Kenya. His full announcement is pending approval by the Central Bank. According to a highly placed, his confirmation follows the bank’s impressive performance in the first, half of 2022 that among others saw the bank return to profitability at end of May 2022. The Bank…
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Anthony Ndegwa the Managing Director & Chief Executive Officer of NCBA Bank Uganda is leaving his position, effective next week, CEO East Africa has exclusively established. He is being replaced by Mr Mark Muyobo, the current Executive Director, Corporate Banking and Structured Solutions in an acting capacity. “Yes it is true he is leaving,” Mr Grace Jethro Kavuma the bank’s Board Chairman confirmed to this reporter on phone. “It is also true that Mark Muyobo has been appointed to replace him in acting, capacity,” Mr Kavuma also told this reporter. Mr Kavuma did not comment on why Anthony Ndegwa had…
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