NAIROBI, Aug 12 (Reuters) - The Co-operative Bank of Kenya’s first-half pretax profit rose 29.63 percent to 8.75 billion shillings ($87 million) lifted by higher non-interest income, the lender said on Wednesday.
Non-interest income, including gains from foreign exchange trading, rose by close to 800 million shillings in the period to 5.97 billion shillings, the bank said in a statement.
The bank, which also operates in South Sudan, said its total operating expenses fell 4 percent to 9.06 billion shillings, mainly due to a round of job cuts last year.
Earlier this year, Co-op bank forecast annual profits could jump by more than 30 percent in 2015 after job cuts and removal of red tape across its branches.
$1 = 100.8500 Kenyan shillings Reporting by Duncan Miriri; Editing by James Macharia