Kingdom Bank posted its first profit to push Cooperative Bank earnings to Sh3.46 billion. Net lending interest income grew to Sh9.8 billion as the bank expanded its loan book. New subsidiary Kingdom Bank, in which Co-op owns 90 per cent stake, contributed Sh126.7 million pre-tax profit compared to Sh76 million loss in the full year ended December 2020. Co-op Consultancy & Insurance Agency posted a Sh262.6 million pretax profit on the back of strong penetration of bancassurance business. The period saw Co-op Trust Investment Services contribute Sh21.3 million pre-tax profit as funds under management grew by 21 percent to Sh128.4 billion.

Source: The Star May 19, 2021 15:00 UTC