Co-operative Bank of Kenya has reported a net profit of KSh 6.9 billion for the first quarter of 2025, marking a 5.3 percent increase compared to a similar period last year. The lender attributed the growth to a significant rise in total interest income, which jumped 14.4 percent to KSh 22.2 billion.
The bank’s earnings were buoyed by a strong performance in its loan book and investment in government securities. Net loans and advances to customers grew to KSh 485.5 billion, up from KSh 378.1 billion in Q1 2024, generating KSh 13.96 billion in interest income. Interest income from government securities contributed an additional KSh 7.03 billion.
Despite the gains in interest income, Co-op Bank’s non-interest income remained flat at KSh 6.94 billion. While income from fees and commissions increased, this was offset by a steep 44.6 percent decline in forex trading income, which dropped to KSh 800 million.
Total operating expenses rose sharply by 19.1 percent to KSh 11.7 billion, primarily due to higher staff costs after the bank expanded its footprint by opening 15 new branches. Meanwhile, the bank’s total assets increased 8.3 percent to KSh 774.1 billion, and customer deposits climbed 9 percent to KSh 525.2 billion.
Group Managing Director Gideon Muriuki said the bank’s performance reflects the successful execution of strategic initiatives, backed by a strong digital presence and close ties with the co-operative movement. “With over 9.4 million account holders, our innovative approach and unique synergies with co-operatives continue to anchor our growth,” Muriuki noted.
The bank remains optimistic about sustaining its growth momentum through continued investment in digital banking and expansion across key markets.