The Co-operative Bank Group has reported a profit before tax of Sh9.6 billion for the second quarter of 2020 compared to Sh10.44 billion recorded over the same period in 2019. Non-interest income retreated 5 per cent from Sh8.8 billion to Sh8.3 billion whereas net interest income grew by 12 per cent from Sh14.3 billion to Sh15.9 billion. The firm’s assets grew by Sh84.3 billion (+20 per cent) to Sh513.9 billion compared to Sh429.6 billion in the same period last year. Net loans and advances book grew by Sh14.6 billion (+6 per cent) from Sh257.6 billion to Sh272.2 billion. Investment in Government securities grew by Sh27.4 billion (+29 per cent) to Sh122.4 billion compared to Sh95 billion in 2019.

Source: Standard Digital August 13, 2020 09:56 UTC