Earnings Report /

Cooperative Bank: Low Q1 earnings from unexpected loan loss provisions; reiterate Hold

  • Performance is largely in line with management targets, which painted a pessimistic outlook for 2021

  • Non-interest revenue is falling behind expectations, with fee and commission income yet to recover

  • We retain our Hold recommendation, in light of concerns about the bank's asset quality and cost structure

Faith Mwangi
Faith Mwangi

Equity Research Analyst, Financials (East Africa)

Tellimer Research
20 May 2021
Published byTellimer Research


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