Consolidated Bank posts 1,350pc jump in half-year profit to Sh174.8 million

Kenya's Consolidated Bank reported a staggering 1,350% surge in half-year profits, reaching Sh174.8 million in the first six months of 2026. This significant jump was driven by a surge in interest and non-interest income. The bank's net profit after tax rose 1,349.5% to Sh174.83 million, up from the previous year's period. Key contributors to this impressive growth were a 33.9% increase in net interest income to Sh738.15 million and a 17.6% rise in non-interest income to Sh331.55 million, signaling enhanced revenue generation.

Total operating income climbed 28.3% to Sh1.07 billion. The bank also broadened its loan portfolio, with net loans and advances growing 4.3% to Sh8.44 billion, while customer deposits expanded 13% to Sh13.57 billion. Despite this progress, the bank still grapples with non-performing loans, as gross non-performing loans surged 12.5% to Sh4.27 billion, indicating persistent asset quality concerns.

Loan loss provisions also climbed 23.5% to Sh199.85 million, as the bank set aside additional funds to counter potential losses from troubled loans. Nonetheless, the surge in income and deposits bolstered the bank's balance sheet, with total assets growing 14.4% to Sh21.05 billion. Consolidated Bank, majority-owned by the Kenyan government, continues its push to bolster its financial standing and expand its operations in Kenya's competitive banking landscape.