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Co-op Bank’s after tax profit up by 21pc

Photo/FILE

Co-operative Bank of Kenya managing director, Gideon Muriuki.

Co-operative Bank of Kenya has reported a 21 per cent increase in profit after-tax in the first nine-months of the year, driven by rising interest income on loans.

The bank said on Thursday that its after-tax profit stood at Sh4.5 billion up from Sh3.7 billion reported in a similar period last year, making it the fourth most profitable lender in the country after Equity Bank, Kenya Commercial Bank (KCB) and Barclays Bank.