{"id":63264,"date":"2018-05-24T12:16:21","date_gmt":"2018-05-24T09:16:21","guid":{"rendered":"https:\/\/www.ghafla.com\/ke\/?p=63264"},"modified":"2018-05-24T12:23:57","modified_gmt":"2018-05-24T09:23:57","slug":"10-things-to-note-about-co-operative-banks-4-9-billion-profit-for-the-first-quarter-of-2018","status":"publish","type":"post","link":"https:\/\/www.ghafla.co.ke\/ke\/10-things-to-note-about-co-operative-banks-4-9-billion-profit-for-the-first-quarter-of-2018\/","title":{"rendered":"10 things to note about Co-operative Bank&#8217;s\u00a04.9 billion profit\u00a0for the first quarter of 2018"},"content":{"rendered":"<p>The\u00a0Co-operative Bank has made a profit before tax of 4.9 billion shillings between January and April 2018,\u00a0 a 9 per cent rise.<\/p>\n<p>The profit was made as a result of\u00a0strong growth in earning assets and cost control. The bank&#8217;s customer numbers continue to grow, now standing at 7.2 million<\/p>\n<p>There are several other factors to note about\u00a0Co-operative Bank&#8217;s\u00a04.9 billion profit for first quarter of 2018, take a look below:<\/p>\n<p>1. Co-op Bank closed the quarter with a good capital base, with adjusted total capital against total risk-weighted assets standing at 17.3%, which is 2.8% above the statutory minimum of 14.5%.<\/p>\n<p>2. Co-op Bank&#8217;s total assets is fast approaching Kes 400 billion mark, now standing at Kes 397.8 billion.<\/p>\n<p>3. Then bank continues lending to customers, with Net loans and advances growing by Kes 6.97 billion to Kes 252.8 billion.<\/p>\n<p>4. Co-op Bank&#8217;s total operating income grew by 8.4% to Kesh 10.9 billion.<\/p>\n<p>5. Co-op&#8217;s customer deposits continue to grow to stand at just under Kes 300 billion.<\/p>\n<h5>Alternative\u00a0delivery channels<\/h5>\n<p><a href=\"https:\/\/www.ghafla.co.ke\/ke\/wp-content\/uploads\/sites\/4\/2018\/05\/mco-op-cash.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-63318\" src=\"https:\/\/www.ghafla.co.ke\/ke\/wp-content\/uploads\/sites\/4\/2018\/05\/mco-op-cash.jpg\" alt=\"\" width=\"702\" height=\"290\" srcset=\"https:\/\/www.ghafla.co.ke\/ke\/wp-content\/uploads\/sites\/4\/2018\/05\/mco-op-cash.jpg 702w, https:\/\/www.ghafla.co.ke\/ke\/wp-content\/uploads\/sites\/4\/2018\/05\/mco-op-cash-300x124.jpg 300w\" sizes=\"auto, (max-width: 702px) 100vw, 702px\" \/><\/a><\/p>\n<p>6. Up to 87% of all customer transactions now being done at\u00a0 Co-op Bank&#8217;s alternative delivery channels (MCo-op Cash,\u00a0Co-op visa cards,\u00a0Co-op mVisa and\u00a0Kwa Jirani Agent)<\/p>\n<p>7. The Co-op Bank&#8217;s Mco-op Cash mobile wallet continues to be popular, with over 3.7 Million customers registered, and growing.<\/p>\n<p>8. Co-op Bank&#8217;s partnership with Saccos enables the bank to serve customers through over 560 FOSA outlets, and issue over 1 million Sacco-Link cards.<\/p>\n<p>9. Co-operative Bank of South Sudan has turned around and made a profit of Kshs 32.4 million compared to a loss of Kshs 34.7 in quarter 1 of 2017.<\/p>\n<p>10.\u00a0Co-op Bank through the Co-op Bank Foundation continues to offer full education scholarships to gifted but needy students throughout Kenya, and has so far supported 6,303 students since the inception of the program in 2007.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0Co-operative Bank has made a profit before tax of 4.9 billion shillings between January and April 2018,\u00a0 a 9 per cent rise. The profit was made as a result of\u00a0strong growth in earning assets and cost control. The bank&#8217;s customer numbers continue to grow, now standing at 7.2 million There are several other factors to [&hellip;]<\/p>\n","protected":false},"author":2834,"featured_media":63320,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[310],"tags":[8261,39],"class_list":["post-63264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment","tag-co-op-bank-news","tag-co-operative-bank-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Co-operative Bank makes\u00a04.9 billion profit\u00a0for the first quarter of 2018<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghafla.co.ke\/ke\/10-things-to-note-about-co-operative-banks-4-9-billion-profit-for-the-first-quarter-of-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Co-operative Bank makes\u00a04.9 billion profit\u00a0for the first quarter of 2018\" \/>\n<meta property=\"og:description\" content=\"The\u00a0Co-operative Bank has made a profit before tax of 4.9 billion shillings between January and April 2018,\u00a0 a 9 per cent rise. The profit was made as a result of\u00a0strong growth in earning assets and cost control. The bank&#8217;s customer numbers continue to grow, now standing at 7.2 million There are several other factors to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghafla.co.ke\/ke\/10-things-to-note-about-co-operative-banks-4-9-billion-profit-for-the-first-quarter-of-2018\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghafla! 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