This archive report was first published on 18 August 2021.
Published on August 18, 2021, Co-op Bank of Kenya has reported a 3% increase in half-year profits to KSh 7.4 Billion, compared to net earnings of KSh 7.2 Billion over a similar period last year.
The lender's net non-performing loans rose sharply from KSh 15.6 Billion in H1, 2020 to KSh 18.6 Billion at the end of the first six months of this year.
Co-op Bank of Kenya's loan loss provision increased steeply to KSh 25.5 Billion at the end of H1, 2021, compared to KSh 13.1 Billion over a similar period last year.
The lender benefited from an expanding loan book, which hit KSh 301.2 Billion in H1, 2021 from KSh 272.2 Billion over a similar period last year.
Net Interest Income also increased significantly from KSh 15.9 Billion in H1, 2020 to KSh 18.8 Billion at the end of H1, 2021.
The lender's balance sheet size also grew from KSh 513.9 Billion to KSh 573 Billion over the period under review.
