NAIROBI – Co-operative Bank of Kenya has raised its interim dividend by 50 percent to Sh1.50 per share after net profit for the nine months ended September rose 27.2 percent to Sh27.43 billion.
Net earnings grew from Sh21.56 billion in the same period of 2024, driven by higher interest and non-interest income.
Subsidiaries Post Gains
The lender’s growth was broad-based, with every subsidiary reporting higher earnings.
Co-op Trust, the group’s fund management arm, posted a profit before tax of Sh966.8 million, up 54.8 percent, with Sh508.8 billion in funds under management.
Kingdom Bank recorded a 61.8 percent rise in profit before tax to Sh1.33 billion, the strongest percentage growth among the Kenyan subsidiaries.
Co-operative Bank of South Sudan posted a profit before tax of Sh528 million, up from Sh93.5 million, a nearly sixfold increase.
Co-op Bancassurance Intermediary (CBI) grew profit before tax by 20.2 percent to Sh1.39 billion, while Kingdom Securities reported a 16.2 percent increase to Sh104.5 million.
Digital Channels Drive Transactions
The bank said 94 percent of customer transactions are now carried out through digital and alternative delivery channels, reflecting the continued shift of banking activity away from the branch.
Its network includes 16,215 Co-op Kwa Jirani agents, 600 ATMs and cash deposit machines, and 224 branches supporting service delivery. Agency deposits stood at Sh139.7 billion, up 9.7 percent year on year.
“As more transactions shift beyond the branch, we are creating a future where banking fits seamlessly into everyday life,” the bank said in its communication to the market.
The higher payout rewards shareholders as the bank leans on its diversified group structure, spanning banking, insurance intermediation, asset management, securities and regional operations, to sustain earnings growth.
Co-operative Bank of Kenya is regulated by the Central Bank of Kenya.
