Co-op Bank bullish amid profits drop

Co-operative Bank of Kenya City Hall Branch, Nairobi. [Wilberforce Okwiri, Standard]

Co-operative Bank of Kenya projects its profit to drop significantly this year due to the coronavirus pandemic but expects the reduction to be lower than the rest of the industry. 

In a statement yesterday, the listed bank said it had made positive strides in a dark period that was characterised by a drop in incomes for households and businesses owing to the adverse effects of the pandemic.