MARKET WATCH
COOP BANK....................BUY......................Kshs 16.55
The Company announced a relatively good performance for the
third quarter 2015 with PAT increasing by 34% driven by an
increase in loans and advances which surged by 25%. The bank’s
balance sheet realized a 23% jump to Kshs 332 bn from Kshs 270
bn in September 2014, thus showing the continued strengthening of
the lender’s asset base. The bank expects to open 8 additional
branches in 2016 adding to the over 50 new branches over the past
3 years. Coop Bank won the esteemed award of Bank of the Year
2015 for Financial Inclusion in The Bankers Awards run by the
Financial Times of London, as a result of their creativity guided by
the banks unique model of strengthening the capacity of cooperatives
through Co-op Consultancy Services.