Covid to cut Co-op profit as topline growth steady

The Co-operative Bank building along Nairobi's Haile Selassie Avenue.

Photo credit: Lucy Wanjiru | Nation Media Group

What you need to know:

  • That of Equity rose by nearly seven-fold as that of KCB increased by 242.5 percent.
  • Nine-month net interest income had for instance rose by 11.8 percent to Sh23.64 billion as the bank expanded lending by six percent.

Co-operative Bank of Kenya is projecting a sustained growth in interest income but a material fall in full year net profits for last year on higher provisions for loan defaults.


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