Bank makes a comeback to generating profits following consolidation
In the face of a challenging economic environment, Consolidated Bank has announced a significant growth in its total assets, closing the half-year period at Sh18.4 billion, marking a 19% increase from the previous year. This growth is a testament to the bank's resilience and its commitment to expansion.
The bank's focus on cost management is also evident, as total operating expenses decreased from Sh848 million to Sh812 million over the same period. This reduction in expenses, coupled with the growth in assets, has contributed to a profit of Sh21.6 million for the half-year to June 30, 2025. This profit is a notable improvement from a loss of Sh76.8 million recorded over the same period last year.
Customer deposits also saw an eight per cent year-on-year growth, reaching Sh12 billion. This growth indicates a growing trust and confidence in the bank from its customer base.
The bank's profit is part of its turnaround and growth strategy, which aims to diversify revenue sources and expand the balance sheet. To achieve this, the bank is focusing on improved digital service delivery channels for accelerated growth. The bank's CEO, Sam Muturi, has expressed a positive growth outlook for the bank.
In addition to the above, Consolidated Bank reported a total comprehensive income of Sh12 million for the period. However, details regarding the evolution of its non-funded income, which includes fees, service charges, commissions, and other income sources not related to interest on loans or deposits, were not provided in the available search results. To gain a comprehensive understanding of the bank's non-funded income performance, additional sources such as the bank's latest annual report, investor presentations, or official press releases would be required.
The bank also maintains an adequate liquidity ratio of over 30% as at the end of June 2025, which is above the statutory minimum of 20%. This strong liquidity position positions the bank well for future growth and expansion.
In the spirit of serving its customers better, the bank plans to introduce innovative products to serve customers in the SME and MSME sectors. These initiatives are expected to further boost the bank's growth and profitability.
In conclusion, Consolidated Bank's half-year performance shows promising signs of recovery and growth. The bank's focus on cost management, digital service delivery, and customer-centric initiatives bode well for its future success. As more information becomes available, we will continue to update our readers on Consolidated Bank's progress.
The bank's turnaround and growth strategy involves diversifying revenue sources and expanding the balance sheet, with a focus on improved digital service delivery channels for accelerated growth, as expressed by the bank's CEO, Sam Muturi. Moreover, the bank's significant increase in total assets, coupled with a reduction in expenses, has led to a profit and marks a positive shift in its finance sector, demonstrating the bank's resilience and commitment to business expansion.
