Profit before tax ksh.16.4bn

https://www.businessdail...en-new-branches-3687592

Co-operative Bank of Kenya is set to open seven new branches in the country this year, expanding its physical presence in areas it sees opportunities to grow its customer base.

The ongoing expansion will raise the bank’s total branches to 200, bucking the trend of maintaining or reducing brick-and-mortar outlets seen among the other big banks.

Co-op Bank said it will open new branches at Kamakis on Nairobi’s Eastern Bypass, Kabarnet, Iten, Moyale and Mwiki/Kasarani. Others are at Bunge, the new Parliament Tower in Nairobi, and Kamulu in Nairobi’s Eastlands.

- Total Assets +7.9% to 579.7B
- Loan Book +8.2% to 310.1B
- Customer Deposits +7.6% to 407.7B
- Total Interest Income +13.9% to 55.6B
-Net interest income went up by 12.9 percent to Kes.41 billion from Kes36.3 billion
-Non-interest funded income surged by 10.9 percent to Kes.19.4 billion from Kes17.5 billion.
-Costs have fallen by 3.3 percent to Kes.38.1 billion, including 2.5 percent dip in loan-loss provisions that closed at Kes7.9 billion from Kes8.1 billion in 2020.
The fall in provisions comes as the bank's gross NPLs eased by 15.9 percent to Kes49.7 billion from Ksh.59.1 billion by December 2020
- PBT +54.8% to 22.6B
- PAT +53% to 16.5B
- EPS 2.85 [2020: 1.98]
- DPS 1.00 [2020: 1.00]

Co-op Bank gets Sh550m loan to fund mortgages

The Co-operative Bank took a loan of Sh549.8 million from the Kenya Mortgage Refinance Company (KMRC) last year for onward lending to home buyers, disclosures by the lender’s majority shareholder show.
The KMRC is lending the money to the bank at an interest rate of five percent per annum, which will allow the institution to on-lend the same at single-digit rates to mortgage customers earning less than Sh150,000 per month.
The lender accounted for five percent of Kenya’s total outstanding mortgage loans as of the end of 2020, the latest Central Bank of Kenya (CBK) data shows. This amounted to 1,285 mortgage accounts, with loans worth Sh11.9 billion.

Co-op Bank’s subsidiary Kingdom Bank had also issued mortgages worth Sh1.19 billion at the end of the period, from 203 accounts.

There were a total of 26,971 mortgage loans in issue in Kenya by 2020, worth Sh232.7 billion.

The average home loan size stood at Sh8.6 million, with an average rate of 10.9 percent on the loans and a time to maturity of 11 years.

Has always been. Glad to read from you

A big bank that is sitting on a huge potential.
If they continue with the current trend NCBA will overtake them as third most profitable lender.

Gok doesn't have the money,it will saccos and coop bank to fund while it provides the guarantee role

Coop bank made a big mistake loaning them the ksh.4bn in 2019

KES 1.5 dividend per share dividend incoming..