Coop Bank Kenya reports drop in Q3 Net profit by 9.5% to Ksh 9.54 Billion

Cooperative Bank of Kenya has reported its Q3 2017 numbers with profit after tax dropping by 9.5 percent to Sh 9.54 Billion compared to Sh 10.54 Billion reported in the same period in 2016.

Profit before tax also fell to Sh 13.7 Billion from Sh 15.2 Billion recorded in Q3 2016.

Total Interest income declined by 7.7 percent from Sh 32.3 Billion to Sh 29.9 Billion as cost to income ration went up from 52.1 percent in Q3 last year to 47.6 percent in Q3 2017.

Net loans and advances over the period went up by 14.2 percent to Sh 32.4 Billion to Sh 259.4 Billion from Sh 227 Billion last year.

Customers deposits over the period also grew by a decent margin to Sh 289 Billion from Sh 257.8 Billion in the same period last year.