Co-operative Bank Group has posted Sh7.2 billion net profit in the half-year results, 3.6 per cent lower compared to the similar period last year. Consequently, this saw the lender’s gross earnings shrink marginally to Sh9.6 billion compared to Sh10.4 billion last year. Co-op Bank Group MD Gideon Muriuki said the strong performance is an affirmation of the resilience of the business in view of the most challenging operating environment occasioned by the Covid-19 pandemic. ''We are actively engaging our customers to support them through this period by re-aligning servicing of facilities, funding and transactional needs as the situation unfold,’’ Muriuki said. The bank has since restructured Sh39.2 billion loans to support customers following a direction by the Central Bank of Kenya (CBK) in March.

Source: The Star August 13, 2020 08:48 UTC