Tuesday, June 2, 2026
Star Today Logo
  • Home
  • News
  • Business
  • Politics
  • Investigation
  • Health
  • Opinion
No Result
View All Result
Star Today Logo
Home Business

Co-op Bank Q1 Profit Rises 21pc to Sh8.4 Billion on Strong Income Growth

May 13, 2026
in Business
Reading Time: 1 min read
Co-op Bank Proposes Major Corporate Restructuring into Holding Company
0
SHARES
Share on FacebookShare on TwitterShare on Whatsapp

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.

Readers' Choice

Co-op Bank Crowned Africa’s SME Bank of the Year

Co-op Bank Sponsors National Police Track and Field Championships

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.

ShareTweetSend
Previous Post

List of 34 Presidents Ruto hosted in 2 days

Next Post

TSC appoints Sharon Kisire as Vice Chairperson

Related Posts

Co-op Bank Crowned Africa’s SME Bank of the Year

Co-op Bank Crowned Africa’s SME Bank of the Year

May 30, 2026
Co-op Bank Sponsors National Police Track and Field Championships

Co-op Bank Sponsors National Police Track and Field Championships

May 6, 2026
Next Post
TSC appoints Sharon Kisire as Vice Chairperson

TSC appoints Sharon Kisire as Vice Chairperson

Continue Reading

Lenana School Sends Students Home Following Night Unrest

Lenana School Sends Students Home Following Night Unrest

by Star Today
June 2, 2026

Lenana School has temporarily released all students after unrest and disturbances disrupted night prep sessions, prompting the administration to suspend...

Co-op Bank Crowned Africa’s SME Bank of the Year

Co-op Bank Crowned Africa’s SME Bank of the Year

by Star Today
May 30, 2026

The Co-operative Bank of Kenya has been named SME Bank of the Year in Africa, reinforcing its standing as one...

Co-op Bank Tops 11 Fastest Growing Companies in Kenya

Co-op Bank Wins Africa SME Banking Honour for Financial Inclusion

by Star Today
May 29, 2026

The Co-operative Bank of Kenya has been recognised for its contribution to financial inclusion in Africa after being named SME...

Senegal’s president sacks prime minister Sonko after months of tensions

Senegal’s president sacks prime minister Sonko after months of tensions

by Star Today
May 23, 2026

Senegalese President Bassirou Diomaye Faye has sacked Prime Minister Ousmane Sonko and dissolved the nation's government after months of tensions...

Recent News

  • Lenana School Sends Students Home Following Night Unrest
  • Co-op Bank Crowned Africa’s SME Bank of the Year
  • Co-op Bank Wins Africa SME Banking Honour for Financial Inclusion

Category

  • Business
  • Health
  • Investigation
  • News
  • Opinion
  • Politics
  • Star Today

© 2023

No Result
View All Result
  • Home
  • News
  • Business
  • Politics
  • Investigation
  • Health
  • Opinion

© 2023