Co-operative Bank has reported a significant 28 percent increase in profit after tax for the first half of 2026, reaching Sh18 billion.

• The growth was driven by a 13 percent rise in net interest income to Sh33 billion.
• Key individuals include Group Managing Director and CEO Gideon Muriuki.
• The bank also saw strong performance from its subsidiaries, including Kingdom Bank and Co-op Bancassurance Intermediary, and maintained a strong liquidity ratio of 57.3 percent.

The Central Bank of Kenya (CBK) has maintained its benchmark interest rate at 8.75 percent. This decision comes amid steady inflation and global economic uncertainties.

• Inflation in Kenya edged up slightly to 6.5 percent in July, primarily due to increased food prices.
• The Monetary Policy Committee (MPC) retained the Central Bank Rate (CBR) at 8.75 percent.
• Despite rising global risks, the CBK noted that Kenya’s economy grew by 5.3 percent in the first quarter of 2026.

Absa Bank Kenya has clarified that mortgage approval is not the final step in homeownership, emphasizing the critical legal and administrative processes that follow before property transfer.

• Securing a mortgage is only "half the journey," according to Beatrice Chege, Absa Bank Kenya Head of Mortgage.
• The post-approval stage involves ownership verification, legal documentation, tax payments, and property registration, often requiring interaction with platforms like Ardhisasa.
• Borrowers must budget for additional costs such as stamp duty, legal fees, and insurance, and may face delays due to document processing and borrower disengagement.

A new bill proposes to scrap the Higher Education Loans Board (HELB) and replace it with a new entity, the Tertiary Education Funding Authority, aiming to streamline financial support for students.

• The Tertiary Education Funding Authority would consolidate the functions of HELB, the Universities Fund Board, and the TVET Funding Board.
• The authority will be empowered to mobilize funds from various sources, including government allocations, investments, and private capital, for student lending through the Tertiary Education Fund.
• The proposed legislation, sponsored by Majority Leader Kimani Ichung’wah, also outlines plans for scholarships, data management, and loan recovery.