Co-operative Bank of Kenya (Co-op Bank) has reported a Ksh. 13 billion net profit for the half-year. This is a 7% jump, compared to Ksh. 12.1 billion reported during a similar period in 2023. The growth was driven by a jump in the total operating income which was watered down by a faster jump in operating expenses.
Similarly, the lender increased its holdings of government securities by 7.3% with the lender’s total assets growing to Ksh. 716.9 billion. Customer loans also grew by 2.8%, while customer deposits were up 9.4% to Ksh. 507.4 billion, crossing the Ksh. 500 billion mark for the first time. This growth was attributed to subsidiary expansion.
