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NAIROBI, KENYA: Co-op Bank Group’s profit after tax for the financial year 2020 has declined by 24 per cent on account of increased Covid19-related loan loss provisions and the absorption of currency translation losses in South Sudan operation.
The bank on Thursday reported a profit before tax of Sh14.3 billion for the financial year 2020 compared to Sh20.7 billion recorded in 2019, and a Profit after tax of Sh10.9 billion compared to Sh14.3 billion in 2019.
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