NCBA to Auction 13 Repossessed Vehicles in Online Sale

Nairobi — NCBA Group has announced a public auction of 13 repossessed and accident-damaged vehicles set for Tuesday, August 26, with the entire process to be conducted online. The auction marks a continued shift by Kenyan banks toward digital disposal of distressed assets as financial institutions seek to recover loans amid rising defaults.

Auction Details

According to a notice from NCBA Insurance Agency, Dalali Traders Auctioneers have been appointed to oversee the sale. The vehicles on offer range from high-end SUVs, including a Toyota Prado, to mid-range models such as the Nissan X-Trail and Toyota Fielder. The units are currently parked at designated yards in Nairobi and Mombasa.

The auction will run between 11:00 am and 1:00 pm on the bank’s online portal. Interested bidders must first place a refundable deposit of KSh 100,000 before being granted access to participate. Successful bidders will be required to clear the balance of their bid amounts within seven days. Failure to do so will result in forfeiture of the deposit.

Terms of Sale

NCBA emphasized that the vehicles will be sold strictly on an “as-is, where-is” basis, meaning buyers assume full responsibility for the condition of the cars. All sales will be subject to pre-set reserve prices that reflect current market valuations for repossessed vehicles. In addition, buyers will cover the costs of transferring ownership through the National Transport and Safety Authority (NTSA).

Prospective buyers are encouraged to physically inspect the vehicles before the auction date to verify their condition.

Broader Context

The move underscores NCBA’s ongoing strategy to recover non-performing loans by liquidating repossessed collateral. Kenya’s banking sector has in recent years increased its reliance on digital auction platforms to widen participation and reduce transaction costs. Analysts note that such auctions offer buyers opportunities to secure vehicles at below-market prices, though risks remain given the accident-damaged nature of many units.

Vehicle repossessions have become more common in the wake of tighter credit conditions and economic pressures that have strained household and corporate borrowers. Industry data shows that asset disposal remains a key tool for banks to clean up their balance sheets while addressing the surge in loan defaults.

Outlook

Tuesday’s online auction is expected to attract a mix of individual buyers and motor dealers hunting for bargains. Observers say the event will also test the uptake of digital auctions in Kenya’s car resale market, a trend that could reshape how banks and auctioneers handle repossessed assets in the future.