Nairobi April 28th 2025- Kenya National Police DT SACCO has received affirmation of its 2025 national scale issuer ratings from GCR Ratings, a Johannesburg-based credit rating agency. The SACCO retains its Long-Term National rating of A-(KE) and Short-Term National rating of A2(KE), both with a Stable Outlook. These ratings highlight the SACCO’s strong capital base, stable funding and key role in Kenya’s financial sector.
The A-(KE) Long-Term rating signals the SACCO’s ability to meet obligations, supported by disciplined operations. As of December 31, 2024, its core capital to total assets ratio was 33.0%, well above the 2023 SACCO industry average of 16.1%. The institutional capital to assets ratio was 27.0%, and core capital to deposits was 64.0%, both exceeding the regulatory minimum of 8.0%. The GCR financial leverage ratio stood at 36.0% in 2024, averaging 36.9% over five years.
Ranking third among Kenya’s 174 deposit-taking SACCOs, the SACCO had assets of KES54.0 billion in 2023, with gross loans and advances at KES51.9 billion in 2024, up 10.9% from 2023. Membership grew to 74,305 in 2024, mostly police officers and civil servants. Its loan penetration rate was 46.2% as of December 31, 2023, reflecting a focused market.
Funding stability is a cornerstone of the SACCO’s operations, with non-withdrawable deposits comprising 90.2% of total member funding, totalling KES31.1 billion in 2024. The deposit portfolio is well-diversified, with the top 20 depositors accounting for only 1.1% of total deposits in, though tied closely to the Kenya Police Service. Funding costs edged up to 10.4% in 2024, above the 2023 commercial banking average of 5.2%. Liquidity on the other hand, remains strong, with a 61.0% ratio, well above the regulatory minimum of 15.0%, ensuring ample capacity to meet short-term needs.
The SACCO’s asset quality has stood out, with a non-performing loan (NPL) ratio of 2.4% in 2023, notably lower than the banking sector’s 14.9% and the SACCO industry’s 8.0% averages, reflecting rigorous credit oversight. Net interest income, representing 82.0% of total operating revenue in 2023, provides a steady revenue foundation.
CEO of KNPDTS Solomon Angutsa said, “GCR’s reaffirmed ratings highlight our dedication to financial strength and member-focused services. We remain committed to fostering savings, affordable credit and financial inclusion as we shape our 2025-2029 strategic vision.” The reaffirmed credit ratings from GCR reflect Kenya National Police DT SACCO’s solid financial position, effective governance and sound risk controls. As the SACCO implements its 2025–2029 strategic plan, it remains focused on providing members with reliable financial services, competitive returns and efficient operations. The SACCO continues to prioritize member needs, maintain financial stability and support financial inclusion within the cooperative sector.
