Co-op Bank Posts Record Sh11.4bn Q1 Profit as Kenyan Banks Advocate PAYE Tax Cut - May 2026

Co-operative Bank of Kenya has announced a record-breaking pre-tax profit of Sh11.4 billion for the first quarter of the year, marking a significant financial achievement. Kenyan banks are advocating for a reduction in Pay As You Earn tax, believing it will boost the economy, generate employment, and alleviate financial burdens on households. Minority shareholders at Scangroup are planning to oust the current board of directors at the upcoming June Annual General Meeting.