Consolidated Bank Returns to Profit
The bank’s assets grew to Ksh 18.4 billion in the first half of 2025, from Ksh 15.5 billion in the same period last year—an upsurge of 18.5%.
Consolidated Bank now wishes to continue in its upward trend as it aims to achieve long-term stability and growth. Photo/Courtesy
By Juliet jerotich
Consolidated Bank returned to profitability. The state-owned bank posted a Ksh 12 million net profit for the first half of the year. This represents a sharp turnaround from the loss of Ksh 84.6 million posted for the period in 2024.
Boosted by higher net interest income, the better results were led. It rose by 21% to Ksh 551 million from Ksh 455 million in the prior year.
CEO Sam Muturi attributed the growth to strategic shifts. “The Bank’s outlook is positive. We’re focusing on digital channels and creating new products for SMEs and MSMEs,” he said.
The bank has been under scrutiny due to past losses and shrinking deposits. It’s also one of the entities listed for possible privatization under the government’s ongoing programme.
By last December, the Auditor General reported that Consolidated Bank had recorded losses worth Ksh 4.45 billion. Its liabilities also exceeded assets by Ksh 466.14 million.
The recent figures, however, are better. The bank’s assets grew to Ksh 18.4 billion in the first half of 2025, from Ksh 15.5 billion in the same period last year—an upsurge of 18.5%.
Muturi said the bank is gaining traction from reforms brought in over the last three years. “We are glad that our efforts are finally bearing fruit,” he stated.
Customer deposits were the key driver of the recovery. They rose by 8% on a yearly basis to amount to Ksh 12 billion. This brought total liabilities to Ksh 17.9 billion from Ksh 14.9 billion earlier.
The loan book of the bank is at Ksh 8 billion. The bad loan provisions slightly went up by 3%, to Ksh 162 million this year from Ksh 157 million in 2024.
Consolidated Bank now wishes to continue in its upward trend as it aims to achieve long-term stability and growth.
About Author
