Cooperative Bank of Kenya group managing director Gideon Muriuki. The bank's net profit for the nine months period to September 30, 2020 declined by 10 percent. PHOTO | FILE | NMG
Kenya’s Co-operative Bank net profit for the nine months period to September 30 declined by 10 percent over reduced banking transactions and increased provisioning to cushion against the economic disruption occasioned by the Covid-19 pandemic.
The lender, which is listed on the Nairobi Securities Exchange (NSE), recorded a profit after tax (PAT) of Ksh9.8 billion ($98 million) compared to Ksh10.9 billion ($109 million) in the same period last year, according to the unaudited financial statements released Thursday.
