Over 10 years we help companies reach their financial and branding goals. Maxbizz is a values-driven consulting agency dedicated.




411 University St, Seattle


Kenya: Co-op Bank net profit jumps 52% to Sh16.5 billion – african markets

Cooperative Bank’s net profits for the year ended December 2021 jumped 52 percent to Sh16.5 billion on improved lending and acquisition of Kingdom Bank.
Co-op profits rose from Sh10.8 billion last year supported by a 12 percent jump in operating income from loans, fees, and subsidiaries including Kingdom Bank.
Net interest income grew 13percentt to Sh41 billion while non-funded income grew 11 percent to Sh19 billion.
The lender which bought Jamii Bora Bank and renamed it Kingdom says the new subsidiary gross profits have crossed half a billion.

“Kingdom Bank Limited has contributed a profit before tax of Sh512.4 million in FY2021 compared Sh124.2 million reported last year,” Cooperative Bank managing director Gideon Muriuki said.
The bank has turned around the mid-tier acquisition in its first year of operations making the strategic buy a great bargain for the lender.
Cooperative Bank will pay Sh1 dividend per share making the total payout Sh5.86 billion as it continues with the policy to pay shareholders through the pandemic to support recovery.  
The lender’s total assets stand at Sh579.8 billion for the year ended December 2021.
“Shareholders’ funds grew to Sh100.2 billion (10 percent) from Sh90.7 dillion in 2020 enabling us to continue pitching for big-ticket deals,” Mr Muriuki said.
Co-op has seen double-digit growth in lending to customers and increasing government securities portfolio as the economy recovered from the Covid-19 pandemic.
Loans to customers increased 8 percent billion while government securities rose 14 percent to Sh184.1 billion.
The lender has also been keen to keep costs down, managing its bad loan exposure and keeping a lid on operation costs which only grew 3 percent to Sh39.4 billion.
The bank has set aside Sh7.9 billion as loan loss provisioning down from Sh8.1 billion a year ago indicating improving quality of asset book as businesses and households continue to recover from the impact of the Covid-19 pandemic.
The bank has also strengthened its digital banking with 5.3 million customers registered on the MCo-op Cash, giving loans worth Sh71.2 billion year-to-date, over Sh6 billion per month on average.

By using our website, you agree to our use of cookies. Learn more
Cookies are short reports that are sent and stored on the hard drive of the user’s computer through your browser when it connects to a web. Cookies can be used to collect and store user data while connected to provide you the requested services and sometimes tend not to keep. Cookies can be themselves or others.
There are several types of cookies:
So when you access our website, in compliance with Article 22 of Law 34/2002 of the Information Society Services, in the analytical cookies treatment, we have requested your consent to their use. All of this is to improve our services. We use Google Analytics to collect anonymous statistical information such as the number of visitors to our site. Cookies added by Google Analytics are governed by the privacy policies of Google Analytics. If you want you can disable cookies from Google Analytics.
However, please note that you can enable or disable cookies by following the instructions of your browser.
Copyright © 2021 AM Investor Services SPRL. All Rights Reserved.
Subscribe to our Newsletter
Get the latest insights, stories and trends straight to your inbox.




Finance specialist with courses ranging from corporate finance, perfonal finance and startup finance. Msc. Acturail Science, Bsc. Finance, COP Insurance and phD. Business Advministration -FInance(ongoing)