In Week 4 of 52 (2026), NCBA Group PLC emerged the top gainer in the Banking Sector on the Nairobi Securities Exchange (NSE) on a week-on-week basis, rising by 8.33% to close the week at KES 97.50, up from KES 90.00 in the week ended January 15, 2025.
The counter’s rally was driven by the lender’s announcement of a Strategic Investment Proposal together with a Notice of Intention (NOI) from South African-based lender, Nedbank Group Limited (Nedbank) to acquire 66% of the ordinary shares of NCBA from its shareholders by way of a Tender Offer, with the remaining 34% of shares continuing to trade on the NSE.
The planned transaction, which values NCBA at a multiple of 1.4x book value, will see 20% settled in cash and 80% through the issuance of Nedbank ordinary shares listed on the Johannesburg Stock Exchange (JSE).
NCBA Stock Performance
In Friday’s trading session, NCBA traded 112,562 shares across 252 deals generating a turnover of KES 11 million. The stock’s market capitalization stood at KES 161 billion. The counter has gained 99.6% year-on-year and 16.1% year-to-date ranking it third overall on the NSE in terms of year-to-date performance and first in the banking sector.
At the sector level, Absa Bank Kenya ranked the second on weekly gains, appreciating by 2.72%, followed by Co-operative Bank and I&M Group Holdings which gained 1.86% and 0.11%, respectively. The rest of the banking stocks recorded losses.
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