Co-operative Bank of Kenya (Co-op Bank) has reported a by 5.3 per cent growth in profit after tax for the first quarter of 2025, driven by income growth, as the tier one lender expands its footprint across Kenya and South Sudan.
In results released Thursday, the bank said its net earnings reached Sh6.9 billion for the three months, compared to Sh6.6 billion in the same period last year.
This came as Co-op Bank was named one of Africas fastest growing companies in 2025 by FT of London.
FT said it based the ranking on the growth in key performance metrics between 2020 and 2023 including absolute and revenue growth, compounded annual growth rate and number of employees.
The bank’s profit growth in the first quarter was supported by a 12.8 per cent rise in total operating income to Sh21.2 billion, compared to Sh18.8 billion the previous year.
This was backed by a Sh21.7 per cent jump in net interest income to Sh14.2 billion.
“The strong performance by the bank is in line with the Group’s strategic focus on sustainable growth, resilience, and agility,” Co-operative Bank Group Chief Executive Gideon Muriuki said in a statement.
The lender’s total assets grew by 8.3 per cent to Sh774.1 billion, while customer deposits reached Sh525.2 billion, a 9.0 per cent rise.
Co-operative Bank is significantly increasing its branch network.
