COOP | Co-operative Bank of Kenya Q3 2023 Earnings Note
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COOP Group posted a 7.59% y/y climb in net earnings (PAT) to KES 18.39Bn by close of Q3’23. The Group’s earnings per share (EPS), on the other hand, rose 8.25% y/y to KES 3.15. Performance was supported by a moderate 2.46% y/y growth in net interest income and a 2.05% y/y increase in non-interest income. Trailing ROaE marginally declined 14bps y/y to 22.33% while trailing ROaA marginally increased y/y to 3.64% in Q3’23. The net profit margin accelerated 169bps y/y to 34.44%.