Co-op Bank Q3 profit soars to KES18 billion

By Steve UMIDHA Last updated Nov 17, 2023

By Monica MUEMA

Co-operative Bank of Kenya announced a 7.5 percent profit growth to Sh18.4 billion in the nine months ended September, on higher interest income from loans.

The net earnings grew from Sh17 billion a year earlier. Co-op Bank’s total interest income increased 12.8 percent to Sh49.3 billion as the lender increased its lending to ordinary customers and the government via purchase of treasuries.

“The strong performance by the bank is in line with the group’s strategic focus on sustainable growth, resilience, and agility,” said Gideon Muriuki, Co-op Bank managing director.

Steve UMIDHA 4590 posts 1 comments

Steven Umidha is a data and financial journalist with over 14 years of work experience in journalism and communication.

He specialises in finance and economics reporting as well as on the causes, impacts, and solutions of global warming, conservation, pollution and sustainability, often blending scientific literacy with journalist ethics, while involving policy analysis and multimedia storytelling across various platforms in highlighting issues from biodiversity loss to ecological justice.

Besides being the Founder of Financial Fortune Media, Umidha has previously worked with the Standard Media Group, Mediamax Networks LTD, bird story agency, Business Journal Africa, and Financial Post among other outlets.

He can be reached on: Email: info@financialfortunemedia.com
Cell: +(254)726-879-488

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