Something About Company
The Co-operative Bank of Kenya is a leading commercial bank in Kenya, established in 1965 and headquartered in Nairobi. It operates as a public company and is licensed by the Central Bank of Kenya. The bank is listed on the Nairobi Securities Exchange under the symbol “COOP”.
🏦 Financial Performance
As of the first half of 2024, Co-operative Bank reported a net profit of KSh 13 billion, up from KSh 12.1 billion in the same period the previous year. Profit before tax increased by 10.7% to KSh 18.2 billion. Customer deposits grew by 9.4% to KSh 507.4 billion, and total assets rose by 7.8% to KSh 716.9 billion.
đź’Ľ Banking Services
Personal Banking
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Executive Banking: Offers personalized services with dedicated relationship managers, preferential rates, higher loan limits, and extended business hours.
Business Banking
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Corporate Banking: Provides working capital financing, cash management, trade finance solutions, and asset financing tailored for businesses .
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Institutional Banking: Caters to NGOs, diplomatic missions, public and private sector entities, offering robust transactional platforms and investment facilitation.
Digital Banking
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Mco-op Cash Mobile Wallet: A mobile platform facilitating loans and financial services, with KSh 36.4 billion disbursed in the first half of 2024 .
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Co-opPay Card: A prepaid card designed for safety, convenience, and control, especially for children’s pocket money.
🌍 Digital Transformation & ESG Initiatives
The bank has moved over 93% of customer transactions to alternative delivery channels, enhancing customer experience and cost-efficiency. It has also launched a Pension-backed Mortgage loan facility in partnership with Enwealth Financial Services Ltd . Additionally, Co-operative Bank has embarked on an enhanced Environmental, Social, and Governance (ESG) roadmap, including the approval of an ESG policy framework and the establishment of a dedicated ESG Unit.
For more information or to access their services, visit the official website.
