Co-operative Bank's Half Year Profit up 4% to Sh7.5 billion

Co-operative Bank Kenya has released its half-year results with net profit increasing by 4% to Ksh7.5 billion, compared to Ksh7.1 billion reported in the same period in 2018.

The growth was largely driven by increased revenues from interest and non-interest sources. The total interest income in the current period was Ksh 20.4 billion a slight jump from Ksh 20.2 billion in the previous year. The total non-interest income increased to Ksh 8.8 billion, a 25 per cent growth from Ksh 7 billion booked in 2018.

The gross non-performing loans increased to Ksh 30.5 billion from Ksh 28.2 billion. Loan loss provision increased to Ksh 10.9 billion from Ksh 7.9 billion.

Co-operative bank Earnings per share in the current half-year was Ksh 1.27 compared to Ksh 1.22 in the previous half-year 2018.