NAIROBI, Kenya, Aug 12 – Co-operative Bank has posted a 28 percent rise in profit after tax to Sh18 billion in the first half of 2026, up from Sh14.1 billion recorded in the same period last year.
The growth was supported by a 13 percent increase in net interest income to Sh33 billion.
Growth in net interest income and resilient non-funded income lifted operating income by 12.5 percent to Sh48.9 billion.
The Group’s subsidiaries also recorded growth during the period.
Kingdom Bank’s profit before tax rose 77.8 percent to Sh873 million, while Co-op Bancassurance Intermediary’s gross profit increased to Sh812.7 million, supported by increased insurance penetration among customers.
Similarly, Co-optrust Investment Services, the Group’s fund management business, recorded funds under management of Sh505.2 billion. Its profit before tax rose 77.5 percent to Sh640.5 million from Sh360.8 million in H1 2025.
Co-op Bank of South Sudan also recorded profit before tax of Sh224 million, up from Sh56.9 million in the same period last year.
Kingdom Securities posted profit before tax of Sh77.9 million, compared with Sh63.2 million in H1 2025, representing a 23.3 percent increase attributed to increased activity in the capital markets.
Co-op Bank Group Managing Director and CEO Gideon Muriuki said the lender maintained a strong liquidity and capital position during the period.
“The Group maintained a strong liquidity and capital position, with a liquidity ratio of 57.3 per cent and total capital to total risk weighted assets at 22.9 per cent, providing a robust platform for continued lending, investment and long-term value creation,” Muriuki said.
The bank also reported an improvement in asset quality, with the non-performing loans (NPL) ratio declining to 13.9 percent from 17.2 percent in H1 2025.
IFRS coverage improved to 80.7 percent from 69.9 percent, while the cost of risk fell to 1.8 percent from 2.4 percent.
