Co-op Bank net interest income, however, rose by 11.8 per cent to Sh23.64 billion during the period as the bank expanded lending by six per cent to Sh284.23 billion.
Co-op Bank has so far restructured loans valued at Sh46 billion or 16.2 per cent of the loan book to accommodate customers seeking flexible options.
Co-operative Bank Group net profit for the first nine months of the year has dropped by 10 per cent to Sh9.77 billion, weighed down by near-doubling of Covid-19-related loan loss provisioning.
The decline in net earnings is from the preceding similar period’s Sh10.88 billion and came on the back of rising loan loss provisioning by 89.4 per cent to Sh4.02 billion.
