Co-operative Bank of Kenya grew its profit after tax by 27.2% to KSh 27.4 billion in the first nine months of 2026, Kenyans.co.ke reported, citing financial statements released on Wednesday. Profit before tax rose by KSh 5.9 billion to KSh 35.9 billion, from KSh 30.0 billion a year earlier. Business Daily and Business Today Kenya also reported the results.
The balance sheet expanded too. Total assets rose 11.3% to KSh 907.4 billion from KSh 815.3 billion. Customer deposits grew 14.8% to KSh 642.5 billion. Net loans and advances rose 22.2% to KSh 496.9 billion. Holdings of government securities reached KSh 271.1 billion.
Bad loans fell. The group's non-performing loan ratio dropped to 12.9% from 17.1% in the third quarter of 2025. IFRS coverage rose to 82.2%. About 94% of customer transactions went through alternative channels rather than branches. Kenyans.co.ke said 16,215 Co-op Kwa Jirani agents and 600 ATMs support this network.
Digital lending kept growing. E-credit disbursements reached KSh 66.6 billion in the third quarter. Cumulative E-credit loans have now passed KSh 568.5 billion across 16.2 million customer accounts. Through its youth brand "Ignite", the bank lent KSh 47.5 billion to more than 585,000 young entrepreneurs and customers.
The subsidiaries also turned a profit. Kingdom Bank posted a profit before tax of KSh 1.33 billion, up 61.8%. Co-op Bancassurance Intermediary made KSh 1.39 billion before tax. Co-optrust Investment Services grew funds under management to KSh 508.8 billion and earned KSh 966.8 million before tax. Co-op Bank of South Sudan made KSh 528.0 million, and Kingdom Securities KSh 104.5 million.
Group Managing Director and CEO Gideon Muriuki credited the results to the bank's 2025-2029 "Good to Great" strategy and its "Soaring Eagle" transformation agenda. He said the interim dividend of KSh 1.50 per share will go to shareholders on the register at the close of business on November 25. Payment is due on December 4.