Overview & Nature

The Co-operative Bank of Kenya Limited is a publicly listed commercial bank in Kenya. It was initially registered under the Co-operative Societies Act but later converted into a company under the Companies Act in 2008 to facilitate its listing. Its shares trade on the Nairobi Securities Exchange (NSE) under the symbol “COOP.”

History

The idea for a cooperative-focused bank emerged in the mid-1960s. The bank officially opened on 10 January 1968 with a modest capital base and support from the government through an interest-free loan. Originally serving cooperative societies, it gradually evolved into a universal bank serving a broad range of customers. In 2020, it acquired Jamii Bora Bank and rebranded it as Kingdom Bank Limited, targeting the MSME sector.

Ownership & Shareholding

The Kenyan cooperative movement remains the majority shareholder through CoopHoldings Cooperative Society Limited, which owns around 65% of the bank. The rest is held by individual and institutional investors.

Governance & Leadership

The bank is governed by a Board of Directors and managed by a senior executive team. The Group Managing Director and CEO is Dr. Gideon Maina Muriuki.

Subsidiaries & Affiliates

Co-op Bank operates several subsidiaries, including:

Kingdom Securities Limited – stock brokerage (majority owned).

Co-op Trust Investment Services Limited – fund management services.

Co-op Bancassurance Intermediary Limited – bancassurance and advisory.

Kingdom Bank Limited – MSME banking arm.

Co-operative Bank of South Sudan – a regional subsidiary (majority stake held by the bank).

It also runs Co-op Consultancy Services, which supports cooperative societies with capacity building and consulting.

Products, Services & Market Position

The bank provides a wide range of services including:

Retail Banking: savings, current accounts, loans, mortgages, and cards.

Corporate & Business Banking: term loans, trade finance, working capital solutions, invoice discounting, and LPO financing.

Treasury & Forex: foreign currency accounts, exchange services, and international transfers.

Bancassurance, Asset Finance, Custodial, and Registrar Services.

It operates an extensive branch, ATM, and agency network across Kenya, with additional presence in South Sudan. The bank is a key player in supporting cooperative societies while competing broadly in the commercial banking sector.

Financials

Reported revenue in 2021 was approximately US$684 million.

Assets were valued at over US$5 billion.

The bank employs more than 5,800 staff and operates over 210 branches, including 5 in South Sudan.

Contact & Headquarters

Head Office: Co-operative House, Haile Selassie Avenue, Nairobi, Kenya

Postal Address: P.O. Box 48231 – 00100, Nairobi

Phone: +254 (0)20 2776000, +254 0703027000

Email: customerservice@co-opbank.co.ke