Gideon Muriuki, the chief executive of Kenya’s Cooperative (Coop) Bank, has increased his stake in the tier-one lender, tightening his control over the bank, according to regulatory filings.
Muriuki’s shareholding in Coop Bank has risen to 2 per cent from 1.75 per cent previously, the filings showed.
Muriuki is the second largest with 117.5 million shares after Co-op Holdings Cooperative Society Limited which has a 64.56 per cent stake in the lender. He is the largest individual shareholder at the lender.
The increase solidifies Muriuki’s position as a major shareholder in the bank he has led as CEO since 2008.
Co-op Bank is one of Kenya’s largest financial institutions, with a strong presence in the cooperative and agricultural sectors.
