Nairobi — Co-operative Bank of Kenya has posted a 21.3 percent jump in net profit to Sh8.41 billion for the first quarter ended March 2026, driven by higher interest income and growth in customer deposits and lending.

The lender's Profit Before Tax rose by 18.1 percent to Sh11.37 billion compared to Sh9.63 billion recorded during a similar period last year.

During the quarter, total assets grew by 14.3 percent to Sh884.6 billion, while customer deposits increased by 16.6 percent to Sh612.2 billion.

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Net loans and advances rose by 13.6 percent to Sh436.8 billion as government securities grew to Sh272.9 billion.

Net interest income increased by 12.2 percent to Sh15.98 billion, helping push operating income up by 13.6 percent to Sh24.05 billion.

The lender also improved asset quality, with its Non-Performing Loans (NPL) ratio declining to 14.5 percent from 17 percent recorded in Q1 2025.

Gideon Muriuki said the bank remained focused on resilience, digital growth and customer-centered banking.

The bank noted that more than 90 percent of customer transactions are now processed through digital channels, supported by over 16,200 Co-op Kwa Jirani agents, 615 ATMs and cash deposit machines, and 222 branches across the region.

The Group's digital lending platform disbursed Sh19.11 billion in loans during the quarter, bringing cumulative e-credit disbursements since inception to over Sh520 billion.

Co-op Bank also expanded its youth banking push through a dedicated Youth Financial Services Division, providing over 100,000 young people with access to financial literacy programmes during the quarter.

Its subsidiaries also posted strong performances, with Kingdom Bank nearly doubling Profit Before Tax to Sh446.2 million, while Co-optrust Investment Services Ltd more than doubled profits to Sh335.2 million.