Co-op Bank is pleased to report a Profit Before Tax for Q12025, a commendable growth compared to Kshs.9.0 Billion recorded in Q12024. This represents a Profit after Tax of Kshs. 6.9 billion compared to Kshs.6.6 Billion reported in Q12024, a growth of 5.3 per cent.
The strong performance by the Bank is in line with the Group's strategic focus on sustainable growth, resilience, and agility, riding on the 'Soaring Eagle' Transformation Agenda.
The Group reports excellent efficiency gains from the various initiatives to record a Cost-to-Income Ratio of 45.5% in Q12025, from 59% in FY2014 when we began our Growth & Efficiency journey.
The Branch network has expanded to a total of 212 outlets (5 in South Sudan). Our newest Branch in Kibwezi, saw the Bank hit 15 additional outlets this year. Other recently-opened locations include: Imaara Mall-Mombasa Road-Nairobi, Ugunja in Siaya, Luanda, Isibania, Maai Mahiu, Dagoretti Market, Marimanti, Ruiru Nord Mall, Naromoru, Eldoret Airport Road, Eldama Ravine, Westlands Square Executive Centre, Eastleigh BBS Mall and Rumuruti.
Kingdom Bank opened its 23rd branch in Machakos County along Mbolu Malu Road, being the fourth branch opened recently.
Co-operative Bank of South Sudan opened its fifth branch in Wau, supporting business growth and financial inclusion in South Sudan.
The Bank continues to invest in a competitive team set to serve at existing functions at the same time tap new growth opportunities across all areas of the business. Staff Numbers have grown from 5,400 as at the close of 2023 to 5,888, creating job opportunities for over 488 young people.
- Co-op Trust Investment Services Ltd contributed Kshs. 161.5 Million Profit Before Tax in Q12025 compared to Kshs. 75.5 Million in Q12024, a commendable 113.9% growth. The Subsidiary has Funds Under Management currently at Kshs. 383.9 Billion.
- Kingdom Bank Limited (A niche MSME Bank) contributed a Profit Before Tax of Kshs. 224.7 Million in Q12025.
- Kingdom Securities Limited contributed a Profit Before Tax of Kshs. 41.8 Million in Q12025, a growth of 199.6%
In 2022, the Bank embarked on an enhanced Environmental, Social and Governance (ESG) roadmap to integrate ESG considerations into its operations, with several key milestones achieved.
The Bank's commitment to ESG excellence was celebrated at the 2024 Kenya Bankers' Sustainable Finance Catalyst Awards, with the Bank emerging as the Overall Award Winner. This was the Fifth win by the Bank since the inception of the Award seven years ago.
The Bank is playing an active role in supporting climate change initiatives (IFRS S1 & S2, Green Finance Taxonomy) that are being led by our regulator Central Bank of Kenya and the industry lobby group Kenya Bankers Association. Co-op Bank has the highest capacity-building rate in Kenya Bankers Association Sustainable Finance Module XII on Climate Risk.
We have, in line with Sustainable Development Goals (SDG) number 13, 'Take urgent action to combat climate change and its impacts', embarked on a Climate Risk Project with the aim of formulating an effective Climate Strategy Roadmap and Implementation Plan to chart a clear path towards our climate goals.
Co-op Bank Foundation, the Group's social investment vehicle, continues to provide Scholarships to gifted but needy students from all regions of Kenya. The sponsorship includes fully paid secondary education, full fees for University education, Internships, and career openings for beneficiaries. The foundation is fully funded by the bank and has supported 11,709 students since the inception of the program.
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Source: TUKO.co.ke
