• About
  • Advertise
  • Privacy & Policy
  • Contact
Kenyan Business Feed
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business
No Result
View All Result
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business
No Result
View All Result
Kenyan Business Feed
No Result
View All Result
Home News

Co-operative bank posts Ksh3.6b net profit in first quarter

Kenyan Business Feed by Kenyan Business Feed
Share on FacebookShare on Twitter

[ad_1]

KBC-survey-feedback-poster

Co-operative Bank made 3.6 billion shillings in net profit during the first three months of this year driven by non-interest income and interest income from government securities.

The bank increased investment in government securities by 38.6 percent to 103.9 billion shillings.

The cap on interest rates that was introduced in 2016 has seen banks ration credit to risk borrowers.

Most lenders have been increasing participation in government securities on account of low risk by the state.

Get breaking news on your Mobile as-it-happens. SMS ‘NEWS’ to 22163

This was the case with Co-operative Bank which increased investment in government securities by 38.6 percent to 103.9 billion shillings.

A statement by Cooperative Bank CEO Gideon Muriuki said: “Interest income from government securities increased by 39.6 percent from Kshs 2.0 billion to Kshs 2.8 billion.”

The lender has also been diversifying to other revenue streams away from reliance on loans and advances.

During the first three months of this year, Coop Bank made 4.2 billion shillings in total non-interest income, which is a growth of 19.1 percent compared to 3.5 billion shillings the lender made in a similar period last year.

This notwithstanding net loans and advances was at 251.6 billion shillings as at end of March last year.

Through its joint venture partnership in South Sudan, coop bank saw its pretax profit grow 28.7 percent to 41.7 million shillings.

This powered the group’s total net profit to hit 3.6 billion shillings, representing a 4.4 percent increase compared to the previous year.

Muriuki says through the bank’s multi-channel strategy, the lender has successfully moved 88 percent of all customer transactions to alternative delivery channels that include self-service kiosks, mobile banking, ATMs, internet and Co-op Kwa Jirani banking agents.

Going forward, Co-operative Bank plans to focus on growing digital banking, efficient delivery of services and multichannel access to deliver business growth and profitability.



[ad_2]

Source link


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]
Kenyan Business Feed

Kenyan Business Feed

Recommended.

Court Rules in Favor of Co-operative Bank of Kenya

March 27, 2025

Harambee Stars AFCON squad named

May 14, 2019

Subscribe.

Trending.

Tourism CS Rebecca Miano announces new measures at Maasai Mara, including ranger deployments, clearer signage, and public education following a viral tourist incident.

Government Tightens Maasai Mara Rules After Viral Tourist Clip

August 26, 2025
Safaricom launches B Live, a first of its kind service allowing customers to buy internet access by the hour, offering flexible one hour three hour and six hour bundles for students creators and professionals.

Safaricom Expands Digital Options with Innovative B Live Product That Adapts to Different Usage Habits

August 21, 2025

Co-op Bank Empowers Over 249,000 Kenyan MSMEs with Loans and Training

August 21, 2025

Student Leaders Slam HELB and Ministry Over University Funding Delays

August 1, 2025
Through new mobile-based loan products, Safaricom is expanding credit access for Kenyan small businesses, targeting informal traders and merchants with fast, digital financing tools.

Safaricom Deepens MSME Lending with New M-PESA Credit Suite

July 14, 2025
Kenyan Business Feed

We focus on news, analysis, and reports about Kenyan business, covering sectors like agriculture, finance, tourism, and technology.

Categories

  • African
  • Agribusiness
  • Courts
  • Education
  • Health
  • Hospitality
  • Manufacturing
  • NetWorths
  • News
  • Reports & Analysis
  • World Business

Popular News

  • First look at the prison where El Chapo may live for the rest of his life

    First look at the prison where El Chapo may live for the rest of his life

    2157 shares
    Share 1040 Tweet 466
  • Sameer Africa CEO Sacked

    1804 shares
    Share 750 Tweet 439

Recent News

Tourism CS Rebecca Miano announces new measures at Maasai Mara, including ranger deployments, clearer signage, and public education following a viral tourist incident.

Government Tightens Maasai Mara Rules After Viral Tourist Clip

August 26, 2025

Co-op Bank Empowers Over 249,000 Kenyan MSMEs with Loans and Training

August 21, 2025
  • Home
  • African
  • News
  • Education
  • Health
  • Reports & Analysis
  • World Business

© 2025 KBF

No Result
View All Result
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business

© 2025 KBF