× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

Kenya's Co-op Bank first half profit rises to Sh8.75billion

By Reuters | August 12th 2015

The Co-operative Bank of Kenya's first-half pretax profit rose 29.63 percent to 8.75 billion shillings ($87 million) lifted by higher non-interest income, the lender said on Wednesday.

Non-interest income, including gains from foreign exchange trading, rose by close to 800 million shillings in the period to 5.97 billion shillings, the bank said in a statement.

The bank, which also operates in South Sudan, said its total operating expenses fell 4 percent to 9.06 billion shillings, mainly due to a round of job cuts last year.

Earlier this year, Co-op bank forecast annual profits could jump by more than 30 percent in 2015 after job cuts and removal of red tape across its branches.

Share this story
Facebook struggles to sell advertising in India
Facebook is trying to lure skeptical advertisers in India with features such as free email support for questions about advertising and advice on increasing sales in a bid to boost revenue from its second biggest market.
Survey: Why 40 pc of workers want to quit their jobs
More than half of 18 to 25 year-olds in the workforce are considering quitting their job. And they are not the only ones.