The Co-operative Bank of Kenya recorded a 21.2 per cent increase in net profit for the first quarter ended March 2026, posting earnings of Sh8.4 billion on the back of growth in interest and non-interest income. The lender’s profit rose from Sh6.93 billion reported during a similar period last year, marking its strongest first-quarter performance to date.
The bank attributed the growth to stronger earnings across its core business segments, with net interest income rising by 12.2 per cent to Sh15.98 billion while non-interest income grew 16.3 per cent to Sh8.07 billion during the review period. Profit before tax also climbed by 18.1 per cent to Sh11.37 billion.
Co-op Bank Group Managing Director and Chief Executive Officer Gideon Muriuki described the results as the lender’s best quarterly performance, linking the growth to gains made under the bank’s 2025–2029 “Good to Great” strategy and its Soaring Eagle Transformation Agenda.
The lender continued to expand its footprint during the quarter, increasing its branch network and workforce as part of its growth strategy. Staff numbers rose by 383 employees to 6,271 while physical branches increased to 222 nationwide. Operating expenses grew by 8.4 per cent to Sh12.74 billion, partly driven by the expansion.
Co-op Bank also reported improved asset quality, with gross non-performing loans declining to Sh71.37 billion from Sh74.07 billion, while the non-performing loan ratio improved to 14.5 per cent from 17 per cent a year earlier. Customer deposits rose by 16.5 per cent to Sh612.22 billion, supporting the bank’s balance sheet growth as total assets expanded to Sh884.57 billion.
