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Co-op Bank mobile app loans hit Sh8.7 billion

A Coop Bank outlet in Nairobi. FILE PHOTO | NMG

Co-operative Bank #ticker:COOP says the number of mobile loans it is processing daily doubled in the past year to 1,000 bids in the period to June 2017, highlighting Kenya’s growing uptake of mobile-based lending.

The lender attributed this to the ease and convenience of getting credit via the M-Co-op Cash mobile app that has seen the average loan size on the platform grow to Sh19,000 from Sh12,800 in the half-year to June 2016.

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