Monday, August 1, 2022
  • About
  • Advertise
  • Careers
  • Contact
Star Today Logo
  • Home
  • News
  • Business
  • Politics
  • Investigation
  • Health
  • Opinion
No Result
View All Result
Star Today Logo
Home Business

Why Co-op Bank was named best bank in Kenya

by Star Today
November 24, 2021
in Business, News
3 min read
Co-operative Bank posts 19% increase in net profit
78
SHARES
7.9k
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Co-operative Bank was named the best bank in Kenya at this year’s African Banking Awards 2020 organised by EMEA Finance, lifting it above its peers in the competitive banking industry. The EMEA (Europe, Middle East and Africa) Finance Awards recognise financial institutions that continue to increase profitability, deliver affordable credit to the retail and wholesale markets, and support local and transnational corporations do business.

This is the third time Co-op is being awarded by EMEA. It won the award in 2018 and 2019. Co-op Bank continues to receive wide recognition for its great performance, especially on practices that address current global concerns including sustainability and financial inclusion.

Readers' Choice

Mobile banking using MCo-opCash: Fast, effective and safe

Mobile banking using MCo-opCash: Fast, effective and safe

July 28, 2022
Panama-Based IEBC Contractor Arrested At JKIA Works As Smartmatic’s Deployment Chief: Data

Panama-Based IEBC Contractor Arrested At JKIA Works As Smartmatic’s Deployment Chief: Data

July 28, 2022

During this year’s awards, 78 commercial and investment banks across the continent were recognized with other local banks being Stanbic Bank Kenya (best investment bank) and EFG Hermes Kenya (best broker).

The Co-op bank’s award comes hot on the heels of recent recognitions that saw its energy manager, Mr Albert Ouma, named ‘Energy Manager of the Year in sub-Saharan Africa by the global Association of Energy Engineers, for his accomplishments in promoting the principles and practices of energy management.

Meanwhile, the bank recently joined the global financial community in signing up to the United for Wildlife 2018 Mansion House Declaration, committing to fight the unauthorised trade in wildlife by way of building this into existing financial offenses compliance programs.

Co-op Bank was also named Overall Winner of the Kenya Bankers Association (KBA) 2019 Sustainable Finance Catalyst Award. The awards recognize institutions that practice sustainable finance which has a direct positive impact on the financial sector, the economy, the environment and the society.

The bank was also named Best Bank in Sustainable Finance in Kenya at the June 2019 Energy Management Awards hosted by the Kenya Association of Manufacturers and also feted as Overall Winner in Environmental Sustainability Reporting at the 2019 East African Financial Reporting (F**e) Awards.

“As a bank that is predominantly-owned by the over 15 million-member Co-operative movement that is the face of Kenya, we are inclusive by design,” Co-op Bank CEO Gideon Muriuki said. “This has enabled us to not only deliver shared prosperity today, but also helped us build an awareness and prudence to avoid making decisions that may put future generations in jeopardy.”

Co-opTrust Investment Services

During the awards, Co-op Bank’s subsidiary, Co-opTrust Investment Services Limited, took home the Best Asset Manager award. This award was not come in vain as the subsidiary has Sh. 181 billion in assets under its management. Co-op Trust is one of the largest and most successful locally-owned asset management firms in Kenya.

The EMEA Finance awards also recognized Co-operative Bank for its successful acquisition and stabilization of Jamii Bora Bank which has since been renamed Kingdom Bank. The bank acquired 90% stake in Jamii Bora Bank in August 2020 for Ksh1 billion. Co-op Bank was further recognized for the way it managed the economic disruption that was brought about by Covid-19 in 2020.

The bank undertook a deep analysis to identify inefficiencies, which were resolved through redeployment of staff and other resources. Currently, the bank has over Ksh536.9 billion in its assets, making it one of the biggest lenders in the region.

At the same time Co-op Bank Group Managing Director & Chief Executive Officer, Dr. Gideon Muriuki, was named as the best bank chief executive officer in Africa. Dr Muriuki was recognized for the bold decision to sustain the payment of dividends to shareholders despite the Covid-19 slowdown. The award also recognized the decision by Dr Muriuki to retain full staff during this period.

ShareTweetSend
Previous Post

Kazi Mtaani programme to be extended until June 2022 – PS Hinga

Next Post

Court to decide on Monday if it will vacate Kinoti jail order

Related Posts

Mobile banking using MCo-opCash: Fast, effective and safe
News

Mobile banking using MCo-opCash: Fast, effective and safe

July 28, 2022
Panama-Based IEBC Contractor Arrested At JKIA Works As Smartmatic’s Deployment Chief: Data
News

Panama-Based IEBC Contractor Arrested At JKIA Works As Smartmatic’s Deployment Chief: Data

July 28, 2022
Co-op Bank seeks to hire Digital & E-Channels Support Officer
News

Co-op Bank seeks to hire Digital & E-Channels Support Officer

July 28, 2022
Next Post
Court to decide on Monday if it will vacate Kinoti jail order

Court to decide on Monday if it will vacate Kinoti jail order

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

ADVERTISEMENT

NEWS BRIEFS

Mobile banking using MCo-opCash: Fast, effective and safe

Mobile banking using MCo-opCash: Fast, effective and safe

July 28, 2022
Panama-Based IEBC Contractor Arrested At JKIA Works As Smartmatic’s Deployment Chief: Data

Panama-Based IEBC Contractor Arrested At JKIA Works As Smartmatic’s Deployment Chief: Data

July 28, 2022
Co-op Bank seeks to hire Digital & E-Channels Support Officer

Co-op Bank seeks to hire Digital & E-Channels Support Officer

July 28, 2022
IEBC Demands Release Of 3 Foreigners Delivering Poll Materials In Kenya

IEBC Demands Release Of 3 Foreigners Delivering Poll Materials In Kenya

July 28, 2022
Co-op Bank offers best back to school deals

Co-op Bank offers best back to school deals

July 28, 2022

About Star Today

Star Today gives you the latest news stories written by local journalists for the ordinary Kenyan.

Recent News

  • Mobile banking using MCo-opCash: Fast, effective and safe
  • Panama-Based IEBC Contractor Arrested At JKIA Works As Smartmatic’s Deployment Chief: Data
  • Co-op Bank seeks to hire Digital & E-Channels Support Officer

Category

  • Business
  • Health
  • Investigation
  • News
  • Opinion
  • Politics

Recent News

Mobile banking using MCo-opCash: Fast, effective and safe

Mobile banking using MCo-opCash: Fast, effective and safe

July 28, 2022
Panama-Based IEBC Contractor Arrested At JKIA Works As Smartmatic’s Deployment Chief: Data

Panama-Based IEBC Contractor Arrested At JKIA Works As Smartmatic’s Deployment Chief: Data

July 28, 2022
  • About
  • Advertise
  • Careers
  • Contact

© 2020 | Star Today

No Result
View All Result
  • Home
  • News
  • Business
  • Politics
  • Investigation
  • Health
  • Opinion

© 2020 | Star Today