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Co-op Bank Q3 profit soars to KES18 billion

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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.

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