Co-op bank records Kshs 14.65 billion profit for Q3 2018

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The Co-operative Bank Group has announced a pre tax of Kshs 14.65 billion for the nine months up to September 2018 compared to Kshs 13.74 billon recorded in a similar period in 2017.

That is an impressive growth of 7 per cent against the backdrop of a challenging economic environment in the period said the group CEO Gideon Muriuki.

Profit after tax was Kshs10.31Billion compared to Kshs9.54 Billion in the previous year, a remarkable 8 per cent growth.

The commendable performance is an affirmation of the Transformation Agenda which has re-tooled and equipped the business with the strategic agility and resilience to achieve set objectives even in the difficult trading environment; the future can only be brighter with the much improved fortunes in our domain operating environment that is on an upswing, added Muriuki.

The Group continues to leverage on the benefits arising from the “Soaring Eagle” Transformation Project that the bank has been implementing since 2014, with a clear focus on improvement in Operating Efficiencies, Sales force Effectiveness and Innovative customer delivery platforms.

 

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