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The Co-operative Bank of Kenya (Coop Bank) has posted a reduced profit of Sh3.46 billion in the first quarter of this year owing to the negative effects of the Covid-19 pandemic.
This represents a drop of 3.6 per cent compared to a profit after tax of Sh3.59 billion that the lender made in the first three months of 2020. The lender put aside a big chunk of its revenue as insurance against possible defaults.
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