Kenya Police Sacco retains strong credit ratings from GCR

The Kenya National Police DT SACCO (KNPDTS) has secured a solid vote of confidence in its financial performance, following the reaffirmation of its national issuer credit ratings by GCR Ratings, a respected Johannesburg-based agency.

KNPDTS retained a Long-Term National Scale rating of A-(KE) and a Short-Term rating of A2(KE), both with a “Stable” outlook—an endorsement of its financial muscle, disciplined governance, and pivotal role within Kenya’s cooperative finance landscape.

According to GCR, the ratings are backed by a robust capital base and stable funding structure.

As of December 31, 2024, KNPDTS had a core capital-to-assets ratio of 33.0%, more than double the industry average of 16.1%. Institutional capital to assets stood at 27.0%, while core capital to deposits reached a strong 64.0%, comfortably exceeding the regulatory threshold of 8.0%.

With assets of Ksh.54 billion in 2023 and gross loans rising by 10.9% to Ksh.51.9 billion in 2024, KNPDTS ranks third among Kenya’s 174 deposit-taking SACCOs.

Membership also climbed to 74,305—predominantly made up of police officers and civil servants—reflecting a loyal and focused customer base.

Funding remains a bedrock of the SACCO’s operations, with non-withdrawable deposits comprising a whopping 90.2% of total member funds.

Even as funding costs inched up to 10.4% in 2024 (against a 5.2% commercial bank average), liquidity stood firm at 61.0%, well beyond the statutory minimum of 15.0%.

Notably, the SACCO has maintained an exceptional asset quality. Its non-performing loan (NPL) ratio was a mere 2.4% in 2023, significantly lower than the banking sector’s 14.9% and the SACCO industry’s 8.0% averages.

Net interest income, which accounted for 82.0% of total revenue in 2023, remains the SACCO’s financial backbone.

CEO Solomon Angutsa praised the ratings affirmation, stating, “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.”