Co-operative Bank of Kenya reported net profit after tax of KSh27.4 billion for the nine months to September 2026, a rise of 27.2 per cent from KSh21.6 billion in the comparable period last year, and announced an interim dividend of KSh1.50 per share, up 50 per cent on the previous year’s payout.
Net interest income grew 12.7 per cent to KSh51.03 billion from KSh45.27 billion while non-interest income increased 9.2 per cent to KSh24.14 billion from KSh22.11 billion, lifting operating income 11.6 per cent to KSh75.2 billion; operating expenses rose 5.3 per cent to KSh39.72 billion, with staff costs up 12.7 per cent to KSh16.96 billion.
The bank cut loan-loss provisioning 34.2 per cent to KSh4.84 billion from KSh7.35 billion, and its non-performing loans ratio fell to 12.9 per cent from 17.1 per cent, with the stock of NPLs reduced to KSh71.67 billion from KSh78.93 billion.
Total assets expanded 11.3 per cent to KSh907.44 billion from KSh815.27 billion and the loan book grew 22.2 per cent to KSh496.88 billion from KSh406.52 billion, while the branch network reached 224 locations, up from 217, and staff numbers rose to 6,630 from 5,826, creating 804 new jobs.
The interim dividend of KSh1.50 per share represents a total payout of KSh8.8 billion and will be paid on or about December 4, 2026 to shareholders on the register at close of business on November 25, 2026; investors have recorded a capital gain of 49.5 per cent on the bank’s shares since the start of the year and top shareholder Co-op Holdings Co-operative Society Limited will receive KSh5.68 billion on its 64.56 per cent stake.
Subsidiary Kingdom Bank, 90-per cent owned by Co-op Bank, posted a net profit of KSh872.96 million, up 65.4 per cent from KSh527.59 million, while Co-op Bancassurance Intermediary Limited earned a pre-tax profit of KSh1.39 billion versus KSh1.15 billion, and Co-operative Bank of South Sudan recorded a pre-tax profit of KSh528 million, a 5.6-times increase from KSh93.5 million.
Co-op Trust Investment Services Limited generated a pre-tax profit of KSh966.8 million, up 54.8 per cent from KSh624 million, with funds under management rising to KSh508.8 billion from KSh496.4 billion, and Kingdom Securities posted a pre-tax profit of KSh104.5 million, a 16.2 per cent rise from KSh89.9 million.
The bank disbursed KSh66.6 billion through its digital credit platform in the third quarter, taking cumulative lending on the platform to KSh568.5 billion since launch, and managing director Gideon Muriuki said the institution continued to strengthen asset quality through proactive credit management, customer engagement and portfolio monitoring.
Customer deposits were reported to have grown 15.4 per cent to KSh633 billion in one release and 14.8 per cent to KSh642.5 billion in another, reflecting a strong increase in funding.
