This archive report was first published on 23 August 2019.
On August 23, 2019, Co-operative Bank Kenya released its half-year results, showing a 4% increase in net profit to Ksh7.5 billion compared to Ksh7.1 billion in the same period in 2018.
The bank's growth was largely driven by increased revenues from interest and non-interest sources. Total interest income rose to Ksh 20.4 billion, a slight jump from Ksh 20.2 billion in the previous year. Non-interest income also increased to Ksh 8.8 billion, a 25% growth from Ksh 7 billion booked in 2018.
However, the bank's gross non-performing loans increased to Ksh 30.5 billion from Ksh 28.2 billion, while loan loss provision increased to Ksh 10.9 billion from Ksh 7.9 billion.
Co-operative Bank's Earnings per share in the current half-year was Ksh 1.27 compared to Ksh 1.22 in the previous half-year 2018.
