The Co-Operative Bank posted improved pre-tax results realizing a 11% gain in pre-tax profits from Ksh3.4 bn (US$43.6 mn) to Ksh3.7 bn (US$48.5 mn) for the year ended 31st December 2009. The banking industry was facing many challenges that included the slow growth of consumer lending; however, the bank was able to grow its loan book by 18% to Ksh62 bn (US$808 mn) while growing its customer deposits by 39% to Ksh91 bn (US$1.2 bn). The government's expansionary policy enable the cost of funds to decline during 2009; however, this was more than offset by the bank's declining interest margin that resulted in the net interest margin declining by 1.1% from 9.4% in 2008 to 8.3% in 2009.

The bank's top-line growth was strong as total operating income grew 21% to Ksh11.7 bn (US$152 mn) boosted by core income streams where net interest income accounted for 58% of total income. The company's EPS rose marginally by 9.7% from Ksh0.80 to Ksh0.85 and the company announced an first and final dividend of Kshs0.20. The dividend will be paid to shareholders on or about 25th June, 2010 and will be paid to shareholders on the register at the close of business on 3rd June, 2010. As at the 12th March, 2010, the company had a market value of Ksh35.8 bn (US$465 mn), a trailing PE ratio of 11.6x, trailing PEG ratio of 0.5x and a trailing PBV of 2.2x.