Consolidated Bank has sustained its strong turnaround momentum, reporting a Group profit before tax of KSh92.5 million for the period ended 31st March 2026, a significant improvement from a loss of KSh12 million recorded in Q1 2025.
This represents an 869% year-on-year turnaround, underscoring the effectiveness of the Bank’s transformation strategy.
The Bank’s balance sheet expanded significantly, with total assets growing by 18% to KSh20 billion, up from KSh17 billion in March 2025. Customer deposits increased by 12% year-on-year, rising from KSh11.3 billion to KSh12.7 billion, driven by an expanding customer base and strengthened engagement with public sector institutions.
The growth in the balance sheet was primarily driven by a 56% increase in government securities, which rose to KSh8.8 billion from KSh5.7 billion in the previous period. This was complemented by a 2% growth in loans and advances, which stood at KSh 8.4 billion at the close of the quarter.
The Bank recorded a 66% increase in net interest income, which rose to Ksh.378 million from KSh228 million, supported by disciplined funding cost management and a strengthened liquidity position.
Liquidity stood at 35%, well above the regulatory requirement, providing sufficient capacity to support future growth. Total operating income grew by 32% year-on-year to KSh512 million, with the Bank’s subsidiary, Consolidated Bancassurance Intermediary, contributing 12% to the Group’s earnings.
Operating expenses rose modestly by 5%, reflecting continued cost discipline and operational efficiency while supporting strategic growth initiatives. Commenting on the performance, Ag. Chief Executive Officer Dr. Dominic Murage said: “These results reflect the strong progress we are making in executing the Bank’s turnaround strategy. The significant growth in profitability, revenue, and balance sheet demonstrates our commitment to delivering sustainable value to our shareholders, customers, and other stakeholders while positioning the Bank for long-term growth.”
He further emphasized that the Bank’s growing partnerships with government agencies, parastatals, universities, and ministries will play a critical role in supporting customers, particularly SMEs and MSMEs, through tailored financial solutions designed to enhance their growth and success.
