The bank says net profit for quarter one stood at Sh3.58 billion against Sh3.59 billion in a similar period last year.
Its staff costs rose to Sh3.4 billion from Sh2.7 billion while the loan loss provisions nearly doubled from Sh510 million to Sh900 million.
Co-operative Bank of Kenya has announced flat profits for the three months to March as rising workers’ pay and costs linked to loan defaults ate into the lender’s earnings.
The bank says net profit for quarter one stood at Sh3.58 billion against Sh3.59 billion in a similar period last year.
