Co-op Bank’s half-year profits have risen by Ksh1.5 billion in profit before tax for the first six months of 2025, compared to the same period last year.
In accounts announced on Thursday, the bank recorded a Profit Before Tax of Ksh19.7 billion, up from Ksh18.2 billion in 2024. Profit after tax stood at Ksh14.1 billion, an increase of Ksh1.1 billion from last year.
The growth has been attributed to a strong performance in key areas such as equity, assets, and customer deposits between January and June.
The results show total assets grew by 13.2 per cent to Ksh811.9 billion, while customer deposits rose 7.9 per cent to Ksh547.7 billion. Net loans and advances increased 4.2 per cent to Ksh391.3 billion.
One area that witnessed a remarkable jump was shareholders’ funds, which grew 23.4 per cent to Ksh156.3 billion, boosted by retained earnings of Ksh18.4 billion, according to the bank.
“Operating income increased 10.8% to Ksh43.5 billion, driven by a 23.1% rise in net interest income,” Co-op said in a statement.
“Operating expenses rose 13.0%, with the Cost-to-Income Ratio standing at 44.9%, a significant improvement from 59% in 2014 when the Bank began the Growth and Efficiency journey,” the bank added.
Co-op Bank continues to enjoy one of the highest digital migrations in the market, with over 90 per cent of transactions now conducted through digital and alternative channels. This includes web, mobile, and USSD services; 622 ATMs; cash deposit machines; and over 16,000 Co-op kwa Jirani agents.
Beyond its core banking operations, the Group’s subsidiaries also posted strong performances. Co-op Bank of South Sudan Ltd recorded a restated profit before tax of Ksh56.9 million after accounting for hyperinflation. Co-op Bancassurance Intermediary Ltd earned Ksh790.8 million, Kingdom Bank Ltd generated Ksh491.1 million, and Kingdom Securities Ltd posted Ksh63.2 million.
Similarly, Co-op Trust Investment Services Ltd delivered Ksh360.8 million, up 152.8 per cent, with funds under management hitting Ksh461.7 billion, making it one of the largest fund managers in the industry.
The strong performance, the bank said, aligns with the Group’s strategic focus on sustainable growth, resilience, and agility under the ‘Soaring Eagle’ Transformation Agenda.
Over the same period, the bank opened 15 new branches across the country, bringing its total to 212. Staff numbers also grew by 450 to reach 5,850 employees.