The Co-operative Bank
- Posted on inBank & Atm
The Co-operative Bank of Kenya Limited is incorporated in Kenya under the Company Act and is also licensed to do the business of banking under the Banking Act. The Bank was initially registered under the Co-operative Societies Act at the point of founding in 1965. This status was retained up to and until June 27th 2008 when the Bank’s Special General Meeting resolved to incorporate under the Companies Act with a view to complying with the requirements for listing on the Nairobi Stock Exchange (NSE).
The Bank went public and was listed on December 22nd 2008.
Shares previously held by the 3,805 Co-operatives Societies and unions were ring-fenced under CoopHoldings Co-operative Society Limited which became the strategic investor in the Bank with a 64.56% stake.
The Bank runs three subsidiary companies, namely:
Kingdom Securities Limited, a stockbroking firm with the bank holding a controlling 60% stake;
Co-opTrust Investment Services Limited, the fund management subsidiary wholly-owned by the bank; and
Co-op Consultancy & Insurance Agency Limited (CCIA), the corporate finance, financial advisory and capacity-building subsidiary wholly-owned by the bank.
To be the leading and dominant Kenyan bank with a strong countrywide presence, playing a central role in the Co-operative movement and providing relevant and innovative financial services to our customers for the optimum benefit of all our stakeholders.
To offer value-added financial services to our chosen market segments with special emphasis on the Co-operative movement through a highly effective network of service points, excellent customer service and a highly motivated team of qualified personnel.
The Co-operative Bank is owned by over 154,942 shareholders (as at 2011 close). Out of this, CoopHoldings Co-operative Society Limited owns 64.56%, with the rest held by other investors.
The Bank has an Authorised share capital of Kes 5,000,000,000 made up of 5,000,000,000 shares of Kes 1.00 each, and an Issued and fully paid capital of Kes 3,492,370,900 made up of 3,492,370,900 shares of Kes 1.00 each.