Co-operative Bank of Kenya reported a 33% jump in net profit at KSh22 billion for the financial year ending in December 2022. It reported a net profit of KSh16.5 billion reported in 2021.
Co-operative Bank has recommended a dividend of KSh1.50 per share, a 50% increase on the KSh1 paid out in 2021.
“The strong performance has led to a sustained increase in shareholder value as reflected in the competitive return on equity of 21.2 per cent,” Co-op Bank chief executive Gideon Muriuki.
Co-op Bank Group's profit before tax for full year 2022 has grown commendably by 30% to Kshs. 29.4 Billion compared to the previous year.
This has led to a 50% enhancement on the dividend paid last year, as the shareholders' value continues to increase. pic.twitter.com/2L6b29pU0h
— Co-op Bank Kenya (@Coopbankenya) March 17, 2023