(Last Updated On: April 29, 2015)
Cooperative Bank has announced a 29% growth in earning for the three months of 2015. It posted a Ksh3.17 billion in net profit compared to Ksh2.46 billion the previous year.
Net interest income grew by 21 % to Ksh5.85 billion as compared to Ksh4.82 billion in 2014. Total assets grew by 25% to Ksh309.6 billion. Loans and advances stands at Ksh184.1 billion which is 68% of the assets.
Operating expenses grew by 3% to Ksh4.3 billion as compared to Ksh4.16 billion in 2014. The bank plans to focus on improving operating efficiencies, cost management and increasing frontline productivity.