Co-op Bank cuts Sh1.2bn stationery costs by half in shift to paperless system

Co-operative Bank of Kenya cut its stationery and printing costs by half last year following a shift to paperless banking. The lender said it spent Sh660 million in printing and stationery last year, down from Sh1.2 billion a year earlier.

The reduction is an indicator of happenings in the banking sector with other lenders such as Family Bank and Equity also in the paperless banking with hopes of slashing operating expenses.