Police Sacco posts Sh2.6b net profit on innovation and efficiency

Kenya Police DT Sacco chief executive Solomon Angutsa. [Courtesy]

The Kenya National Police Deposit Taking (DT) Sacco has reported a revenue increase of Sh570.0 million from advancing loans to members in 2024 compared to the previous year.

Revenue from interest paid on loans stood at Sh8.66 billion in 2024 compared to Sh8.09 billion in 2023.

The sacco’s financials show a profit after expenses increased by Sh40 million peaking at Sh2.51 billion.

The statement notes that innovation and efficiency have been at the core of sacco’s operations in 2024.

“The capital adequacy ratio, with core capital to total assets at 33 per cent, indicates a fortress of financial stability. Liquidity management has shown prudence with the ratio of liquid assets to total deposits and short-term liabilities reaching 30 per cent, up from 27 per cent in 2023, ensuring the Sacco’s readiness to meet its obligations,” the statement says.

It adds that the operational excellence is reflected in the efficiency ratios, where the total expense to total revenue stands at 61 per cent, indicating a lean operation that maximises value for members.

“The focus on member welfare is evident in the 17 per cent dividend rate on members; share capital, an increase from 13 per cent in 2023, which directly benefits the members; investments in the Sacco,” the sacco says.

The Sacco plans to focus on enhancing digital services, expand member education programs and introduce new financial products tailored to the needs of its members.

“This year’s results are a narrative of our collective journey towards financial empowerment and security. We are committed to a thriving and sustainable future for all our members,” said Solomon Angutsa, the sacco's chief executive officer.

At the Annual Delegates Meeting (ADM) to be held on February 21, 2025, at Serena Hotel, Nairobi, the sacco will launch its new strategic plan for 2025–2029.