Co-operative Bank of Kenya’s net profits grew to Ksh.5.8 billion for the first three months of 2022 ending March 31.
This was a 56 percent increase compared to Ksh.3.5 billion that the bank posted during a similar period last year.
The growth was attributable to an increase
Kingdom Bank’s quarter one profit in 2022 surged by 58.1 percent to Ksh.209.8 million from Ksh.132.7 million posted a similar period in 2021.
The profit record is anchored o lower costs with the unit’s overall operating expenses falling 39 percent to Ksh.494.8 million.
The lower expenses are
Kenyans borrow Ksh.6 billion every month from the Co-operative bank mobile money platform, translating to Ksh.200 million daily on average.
In 12 months to December 2021, the lender says customers on its e-wallet platform borrowed a total of Ksh.71.2 billion.
The transaction was supported by the lender’s
Co-operative Bank is calling on Small Medium-Size Enterprises and Business owners to insure their property with political violence and terrorism extension coverage ahead of next year’s general elections.
Addressing SMEs and business owners during a webinar
meeting on Thursday, Joram Kiuna, Head of Banking Assurance at Co-operative
Co-operative bank has secured Ksh.827.85
million (US$.7.5 million) from the African Guarantee Fund (AGF) for lending to small businesses going
green in Kenya.
The loan portfolio will enable Co-op Bank to fund Micro, Small and Medium Enterprises (MSMEs) who are keen to promote green energy and solar installation
The troubled WPP Scangroup led Wednesday’s top gainers on the Nairobi Securities Exchange (NSE) when its shares edged up 12.78 percent to trade at Ksh.4.06.
Outstanding performance coming on a similar day the marketing agency posted a Ksh.1.7 billion loss for the full year ended December 31,
The Co-operative Bank has registered a marginal 2.8 percent growth in earnings in six months to June this year, to record a profit of Ksh.7.4 billion compared to Ksh.7.2 billion recorded in a similar period last year.
The growth has been attributed to rebounding operating