Co-operative Bank Group has led in assets by 16.1 per cent growth in total assets in three months from June to September 30.
According to Central Bank of Kenya’s third quarter Commercial Bank Credit Officer Survey, the assets of banks operating in the country were up over Sh500 billion on high deposits.
The survey that covers 39 banks aggregate balance sheet increased by 2.5 per cent to Sh5.8 trillion in September from Sh5.27 trillion billion in June.
Solidifying its third position, Co-op bank’s total assets stands at Sh592.9 which has grown by Sh82 billion from Sh510.9 billion it had same period last year.
Co-op Bank’s customer deposits grew 12 per cent from Sh375.5 billion to Sh420.4 billion.
In fourth position, NCBA’s assets grew eight per cent to Sh563 billion.
KCB Group’s balance sheet size grew by 15 per cent to Sh1.122 trillion.
It was followed by Equity Bank whose total assets rose to Sh1.2 trillion in Q3 compared to Sh1.1 trillion at the end of the period ended June 30, 2021.
However, quarterly profit before tax decreased by Sh 1.45 billion from Sh50.53 billion in June 2021 to Sh49.08 billion in September 2021.
This was as a result of a higher increase in expenses (4.7 per cent) as compared to an increase in income (2.2 per cent).
Return on Assets decreased to 2.65 per cent in September 2021 from 2.71 per cent in June 2021.
Gross loans increased by 2.7 per cent from Sh3.1 trillion in June , to Sh3.2 trillion in September 2021. The growth in gross loans was mainly due to increased advances in the Trade and Real Estate sectors.
The county’s banking sector asset quality, measured by gross nonperforming loans to gross loans ratio improved from 14 per cent in June 2021, to 13.6 per cent in September 2021.
This was attributed to a 2.7 per cent increase in gross loans which was higher than a 0.09 per cent increase in non-performing loans.