Co-op Bank Shareholders to Pocket Ksh.1.5 per share Amounting to Ksh.8.8 Billion

Co-operative Bank’s growth in earnings has led to a sustained increase in shareholder value as reflected in the competitive Return on Equity of 21.0%.

The Board of Directors has recommended a dividend payment of Ksh.8.8 Billion, being a payout of Ksh.1.50 per share, subject to approval by the regulators and shareholders.

The Annual General Meeting (virtual) will be held on Friday, 17th May 2024.

Co-operative Bank had reported a profit before tax of Ksh32.4 billion for full year 2023, a 10% growth compared to Ksh29.4 billion recorded in 2022.

The results represent a profit after tax of Ksh23.2 billion compared to Ksh22 billion reported in 2022.

This strong performance by Co-operative Bank is in line with the Group’s strategic focus on sustainable growth, resilience, and agility.

  1. Financial Position

  • Total Assets grew to Ksh.671.1 Billion, a 10.5% growth from Ksh.607.2 Billion in the same period last year.
  • Net loans and advances grew to Ksh.374.2 Billion, a 10.3% growth from Ksh.339.4 Billion in 2022.
  • Customer deposits grew to Ksh.451.6 Billion, a 6.6% increase from Ksh.423.8 Billion.
  • External funds from development partners stands at Ksh.67.3 Billion from Kshs.48.1 Billion in 2022.
  • Shareholders’ funds have grown to Ksh.113.6 Billion, a 5.5% increase from Ksh.107.7 Billion in 2022.
  1. Comprehensive Income

  • Total operating income grew by 0.6% from Ksh.71.3 Billion to Ksh. 71.7 Billion.
  • Total non-interest income grew by 2.8% from Ksh.25.7 Billion to Ksh.26.5 Billion.
  • Net interest income remained stable to stand at Ksh.45.2 Billion as compared to Ksh.45.5 Billion in 2022.
  • Total operating expenses decreased by 6.1% from Kshs 42.2 Billion to Ksh39.7 Billion, with a critical focus on Cost Management


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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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