The Co-operative Bank of Kenya recorded a net profit of Kes 26.8 billion for the third quarter of 2024, representing an 8.5 percent growth.
The lender attributed the performance to customer loan and deposit increases, which supported growth in interest and non-interest income.
The bank’s unaudited results for September 30, 2024, showed total operating income rose to Kes 59.2 billion from Kes 53.4 billion in 2023.
Further, interest income from loans increased by 24.5 percent to Kes 39.4 billion, while fee income from transactions such as loan processing and foreign exchange also saw significant growth.
Customer deposits climbed 19.5 percent to Kes 513.9 billion, with total assets reaching Kes 750.8 billion, supported by investments in government securities.
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Shareholders’ equity stood at Kes 131.8 billion, with a return on equity (ROE) of 20.3 percent.
