Customer deposits increased from Ksh323.6 billion to Ksh384.6 billion while net loans and advances to customers rose from Ksh257.6 Billion to Ksh 272.2 billion. Gross Non-Performing Loans (NPLs) and advances to customers increased by Ksh3.7 billion from Ksh30.6 billion to Ksh34.7 Billion.

The lender’s interest income marginally from Ksh 20.4 billion to Ksh 21.8 billion aided by investment in government securities which grew by 29% to Ksh 122.4 billion. On the other hand, Earnings Per Share declined from Ksh 1.27 to Ksh 1.23 during the period under review.

Total Shareholders funds increased to Ksh80.1 billion compared to the Ksh71 billion posted the previous year.

So far, Co-op Bank has restructured loans amounting to Ksh 39.2 billion since the country reported its first coronavirus infection case in mid-March.

The situation has been no different with other local lenders as the banking sector felt the effect of the pandemic on the country’s economy. Mst Kenyan banks have either recorded a loss or a decline in profit in their half-year results.