Co-operative Bank of Kenya Posts FY2024 Profit After Tax of KES 25.5 Billion, Up 9.8%

Co-operative Bank of Kenya reported profit after tax of KES 25.5 billion for full-year 2024, a 9.8% increase year on year, as the lender expanded its balance sheet and grew both interest and non-interest income streams. Results were published on 20 March 2025.

Profit before tax came in at KES 34.8 billion, and earnings per share reached KES 4.33. The board recommended a dividend of KES 1.50 per share, subject to shareholder approval at the annual general meeting on 16 May 2025.

INCOME AND BALANCE SHEET

Net interest income grew 13.9% to KES 51.5 billion.

Non-funded income rose 10.1% to KES 29.1 billion. Customer deposits grew 12.1% to KES 506 billion. Total assets expanded 11% to KES 743 billion.

ASSET QUALITY

The gross non-performing loan ratio was 17.2%. Non-performing loans rose to KES 71.1 billion from KES 66.9 billion.