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Co-op tipped to weather interest rate caps effects on rising loans
Analysts see Coop Bank missing its 20 per cent year-on-year growth by only 1.2 per cent, translating to Sh18.3 billion in profit before tax. PHOTO | FILE
Co-operative Bank is well placed to weather interest rates capping as loan volumes soar, according to an investment bank.
The bank, which was first to cut lending rates after President Uhuru Kenyatta signed the Banking Amendment Bill into law, reported an immediate spike in loan applications as clients found it more affordable to borrow.
