Co-op Bank lines up SME loan billions as net profit hits Sh6.1b

Co-operative Bank headquarters, Nairobi. [David Njaaga, Standard]

Co-operative Bank of Kenya (Co-op Bank) says it has set aside a Sh12.6 billion war chest for affordable loans to small businesses as it posted a 5.17 per cent jump in net earnings to Sh6.1 billion for the first three months of the year.

The jump in earnings was driven by growth in both interest and non-interest income, with total operating income rising 6.5 per cent to Sh17.9 billion.