Co-op bank posts a pre-tax profit of 3.7 billion shillings

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The Co-operative Bank of Kenya grew its profitability in 2009 by 11 per cent growth to post a pre-tax profit of 3.7 billion shillings. The Banks Managing Director, Gideon Muriuki attributes the profit growth to continued increase in the banks income streams coupled by cost containment measures. During the period under review, Co-op Bank expanded its branch network by 27 branches to 79 branches while diversifying into new business lines such as the provision of home loans and stock brokerage services.

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