10 things to note about Co-operative Bank’s 4.9 billion profit for the first quarter of 2018

The Co-operative Bank has made a profit before tax of 4.9 billion shillings between January and April 2018,  a 9 per cent rise.

The profit was made as a result of strong growth in earning assets and cost control. The bank’s customer numbers continue to grow, now standing at 7.2 million

There are several other factors to note about Co-operative Bank’s 4.9 billion profit for first quarter of 2018, take a look below:

1. Co-op Bank closed the quarter with a good capital base, with adjusted total capital against total risk-weighted assets standing at 17.3%, which is 2.8% above the statutory minimum of 14.5%.

2. Co-op Bank’s total assets is fast approaching Kes 400 billion mark, now standing at Kes 397.8 billion.

3. Then bank continues lending to customers, with Net loans and advances growing by Kes 6.97 billion to Kes 252.8 billion.

4. Co-op Bank’s total operating income grew by 8.4% to Kesh 10.9 billion.

5. Co-op’s customer deposits continue to grow to stand at just under Kes 300 billion.