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Co-op Bank’s Q1 net earnings jump to Kes3.4Bn
The bank’s total interest income grew by per cent from Sh9.5 billion to Sh10.4 billion on improved interest income from government securities increasing which doubled by 13.4 per cent from Sh1.76 billion to Sh2 billion.
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Kenya’s Co-operative Bank (Co-op Bank) Thursday reported a 6.25 per cent profit jump in its net earnings for the first three months to March 2018, on increased lending.
The bank’s profit after tax stood at Sh 3.4billion for the quarter from Sh3.2 billion it announced in the same period last year.
“This is a very commendable performance as the operating environment gradually recovers from the significant headwinds that business had to contend with in year 2017,” the lender said in a statement.