Co-op Bank, Absa profits drop on account of Covid-19

Co-operative Bank of Kenya’s net profits in the first nine months of 2020 dropped by 10 per cent to Sh9.8 billion due to the adverse effects of Covid-19 pandemic.

By September 2019 the lender made a profit after tax of Sh10.9 billion, a blissful period for the banking sector as the economy had not been riveted by the pandemic.