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Co-operative Bank's 9-month pre-tax profit rises 34%

05 November 2015, 18:45

Nairobi - Co-operative Bank of Kenya reported a 34 percent rise in pre-tax profit for the first nine months of 2015, boosted by cost cutting that helped improve its cost-to-income ratio.

Pretax profit for the period was 12.2 billion shillings ($119.7 million) compared with 9.1 billion shillings a year earlier, Chief Executive Gideon Muriuki told an investor briefing on Thursday.

Full-year 2015 pretax profit is expected to be 28 to 35 percent higher than 2014, he said.

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- Reuters


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