[Photo/hapakenya.com] [Photo/co-op-bank]
Co-operative Bank Group has said it will focus on digital banking which boasts 86 percent of its customer’s transactions.
The bank said the move will ensure timely, business-led solutions delivery to its customers.
The group has successfully moved 86 percent of customer transactions to alternative delivery channels particularly mobile banking, Automated Teller Machines, internet and Co-op Kwa Jirani bank agency outlets.
Co-op Bank Group chief executive and managing director Gideon Muriuki, said the bank had embraced strategies aimed at sustaining the business on a growth trajectory while in the long-term leveraging on its strong balance sheet, a wide range of service channels, robust Information and Communication Technology framework and a skilled team.
Speaking yesterday during the presentation of third quarter financial results, Muriuki said the Group reported a Sh9.5 billion net profit – which was a drop of 9.5 percent for the period ending September 30 compared to Sh10.5 billion it got in a similar period last year.
He attributed the dip to the capping of interest rates and the general economic slowdown in an election year.
“The group recorded a profit before tax of Sh13.7 billion for the period ending September 30 compared to Sh15.2 billion recorded in the same period last year,” he said.