Consolidated Bank rebounds to profitability

Consolidated Bank along Koinange Street, Nairobi. [File, Standard]

Consolidated Bank has posted a profit of Sh21.6 million for the half-year to June 30, 2025.

This is an improvement from a loss of Sh76.8 million recorded over the same period last year, and is part of the bank's turnaround and growth strategy that aims to diversify revenue sources and expand the balance sheet.

The lender, in a statement, said the turnaround is reflected in the Sh12 million total comprehensive income for the period against a loss of Sh84.9 million over a similar period last year.

Despite the challenging economic environment, the group reported a 19 per cent growth in total assets to close at Sh18.4 billion from the Sh15.5 billion recorded in a similar period the previous year.

Customer deposits grew by eight per cent year-on-year to Sh12 billion, enabling the bank to accelerate growth and maintain an adequate liquidity ratio of over 30 per cent as at the end of June 2025, against the statutory minimum of 20 per cent.

Net interest income grew 21 per cent to Sh551 million from Sh455 million, while non-funded income declined from Sh315 million to Sh282 million. Total operating expenses closed at Sh812 million, from Sh848 million recorded the previous year.

"The bank's growth outlook is positive and is gearing up for accelerated growth through improved digital service delivery channels as well as innovative products to serve our customers, especially in the SME and MSME sectors," said the bank's chief executive Sam Muturi.