The Co-operative Bank is Kenya’s third largest bank by profitability and the number of branches after KCB and Equity.
The Bank was initially registered under the Co-operative Societies Act at the point of its founding in 1966. It was incorporated as a limited company in 2008 paving the way for its listing in the stock market in the same year.
Co-operative societies and unions own 64.5 per cent of the bank through Coop Holdings Co-operative Society Limited. It is best known as the bank where Co-operative societies, saccos and chamas feel at home in terms of value proposition.
On top of that, the banks key customer segments include retail, business, government corporate and institutional banking.
They also offer Leasing, stock brokerage, insurance, consultancy and capacity building for mostly our Saccos, and fund management, where we continue driving fund management of about Sh. 120 billion.
The bank has over 8.8 million customers with over 4. 4 million customers on the digital platform, MCoop Cash. They have over 16,500 Kenyans living in the diaspora as their clients.
The bank in partnership with various Saccos offers retail banking and related products through front-office service points (FOSAs) located at Sacco’s premises and to date 175 licensed Saccos have over 479 FOSA branches in operation.
To date, over 164 SACCOs are enlisted in this partnership and over 1.18 million ATM cards have been issued to co-operative members. They also have the Coop kwa Jirani agents with over 17,000 agents, internet banking customers who continue to grow.
Co-operative Bank is the risk averse bank among the top three Kenyan banks.
