Co-op Bank profit up 8.3% to Sh19.7 billion in H1 2025
Muriuki said the strong performance by the Bank is in line with the Group's strategic focus on sustainable growth, resilience and agility, riding on the "Soaring Eagle" Transformation Agenda
Co-op Bank has posted a strong performance for the first six months of the year 2025, with a Profit Before Tax of Sh19.7 billion, up from Sh18.2 billion posted for the same period last year, reflecting an 8.3 per cent rise.
Profit After Tax rose 8.4 per cent to stand at Sh14.1 per cent from Sh13 billion year on year.
Co-op Bank Group Managing Director and CEO Dr Gideon Muriuki said the strong performance by the Bank is in line with the Group’s strategic focus on sustainable growth, resilience and agility, riding on the “Soaring Eagle” Transformation Agenda.
During the H1 2025, return on equity reached a competitive 19.9 per cent, total assets increased by 13.2 per cent to Sh811.9 billion, customer deposits surged 7.9 per cent to Sh547.7 billion while net loans and advances increased by 4.2 per cent to Sh391.3 per cent.
The Bank’s financial results also show that shareholders’ funds grew 23.4 per cent to Sh156.3 per cent boosted by retained earnings of Sh18.4 billion.
Operating income increased by 10.8 per cent to Sh43.5 per cent driven by a 23.1 per cent rise in net interest income while operating expenses rose 13 per cent with the Cost-to Income Ratio standing at 44.9 per cent, a significant improvement from 59 per cent back in 2024 when the Bank begun its growth and efficiency journey.
Co-op Bank’s digitisation and customer inclusion strategy has further spurred growth with 90 per cent of transactions now happening through digital and alternative channels supported by an omni-channel platform (web, mobile, USSD), 622 ATMs, DCMs and over 16,000 Co-op kw Jirani agents.
At the same time, the M-Co-op Cash mobile wallet disbursed Sh36.4 billion in loans year-to-date of which Sh5.7 billion went to Micro, Small and Medium Enterprises (MSMEs).
Muriuki said the MSME loan portfolio represents 17.3 per cent of the Bank’s portfolio with 249, 319 customers benefiting from tailored packages and 68,800 from training.
He added that a national network of 619 FOSA outlets continues to extend financial services to remote areas and supports the 15 million-member co-operative movement.
Regarding the performance of its subsidiaries, Muriuki said Co-op Trust Investment Services Ltd delivered Sh360.8 million profit before tax, up 152.8 per cent with Funds Under Management at Sh461.7 billion, now one of the largest fund managers in the industry.
On the other hand, Co-op Bancassurance Intermediary Ltd earned Sh790.8 million profit before tax. Kingdom Securities Ltd earned Sh63.2 million profit before tax.
Among its banking subsidiaries, Co-op Bank of South Sudan posted a restated profit of Sh56.9 million after accounting for hyperinflation while Kingdom Bank Ltd generated Sh49.1 million profit before tax.
