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Co-op Bank salary advances double to Sh105bn on Covid

COOPBank

Co-operative Bank branch along Haile Selassie Avenue, Nairobi. FILE PHOTO | NMG 

By  Patrick Alushula

Business Reporter

Nation Media Group

Co-operative Bank of Kenya #ticker:COOP salary advances to customers doubled last year on the back of Covid-19 economic hardships that saw many workers suffer pay cuts.

The lender disclosed that its mobile platform, M-Co-op cash, issued Sh105.1 billion as salary advances in the review period, up from Sh52.28 billion in the preceding similar period.

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