Co-op Bank registers 15pc jump in first half profit, eyes expansion

Co-operative Bank CEO Gideon Muriuki says the bank plans to expand into Ethiopia and Uganda after a rise in pre-tax profit for six months to June 30, 2014.

Co-operative Bank Group has announced a 15.2 per cent growth in pre-tax profit for the six months to June 30, 2014 and disclosed plans to venture into the Ethiopian and Ugandan markets.

The bank, which already has presence in Southern Sudan, raked in a pre-tax profit of Sh6.76 billion compared to Sh5.87 billion in a similar period last year.