Co-operative Bank of Kenya recorded a net profit of Sh26.8 billion for the third quarter of 2024, representing an 8.5 percent year-on-year growth.

This performance was driven by increases in customer loans and deposits, supporting growth in both interest and non-interest income.

The bank’s unaudited results for the period ending September 30, 2024, showed total operating income rose to Sh59.2 billion from Sh53.4 billion in 2023.

Interest income from loans increased by 24.5 percent to Sh39.4 billion, while fee income from transactions such as loan processing and foreign exchange also saw significant growth.

Customer deposits climbed 19.5 percent to Sh513.9 billion, with total assets reaching Sh750.8 billion, supported by investments in government securities. Shareholders’ equity stood at Sh131.8 billion, with a return on equity (ROE) of 20.3 percent. The bank maintained a strong liquidity position, positioning it for future growth.