Co-operative Bank of Kenya has announced a record profit before tax of Ksh23.1 billion for the first half of 2026, marking a 17.3% increase compared to Ksh19.7 billion in the same period last year.
The bank described the results as its best half-year performance to date, attributing the growth to higher interest and non-funded income as it advances its 2025-2029 strategic plan.
Key Financial Highlights
- Profit after tax rose 28% to Ksh18 billion from Ksh14.1 billion in H1 2025.
- Operating income increased by 12.5% to Ksh48.9 billion.
- Net interest income grew 13% reaching Ksh33.2 billion.
- Total assets expanded 7.1% to Ksh869.5 billion.
- Customer deposits climbed 11.2% to Ksh623.2 billion.
- Net loans and advances surged 18.1% to Ksh462.2 billion.
Improved asset quality was reflected in the non-performing loan ratio dropping to 13.9% from 17.2% a year earlier. The bank's IFRS loan-loss coverage ratio also strengthened to 80.7%, up from 69.9%, and the cost of risk fell to 1.8% from 2.4%.
Supporting Youth and Expanding Reach
Dr. Gideon Muriuki, Co-op Bank Group Managing Director and CEO, highlighted that over Ksh27 billion had been disbursed to youth customers by mid-2026, benefiting more than 500,000 young entrepreneurs and business owners.
The bank’s customer base now exceeds 10 million, served through 223 branches, 609 ATMs and cash deposit machines, and 16,105 Co-op Kwa Jirani agents. Digital channels handled over 90% of all transactions during the period.
Employment at the bank increased to 6,591 staff, with 741 new jobs created since H1 2025.
Operational Efficiency and Stability
Operating expenses rose by 9.2%, with the cost-to-income ratio before provisions at 46%. The bank maintains strong liquidity at 57.3% and a capital adequacy ratio of 22.9%, positioning it well for continued lending and investment activities.
