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Co-op named leading retail bank in Kenya

Wangui Githugo @Wango_G

The Co-Operative Bank has been recognised as the best retail bank in the country in the just concluded fourth edition of the Banker Africa- East African Banking Awards 2018.

Apart from being announced as the best retail bank, Co-operative bank scooped two other awards namely the best Small and Medium Enterprises (SME) Bank and the Best Investment Institution in Kenya during an awarding ceremony held last week in Nairobi.

The awards held on Friday evening recognise outstanding performance and excellence in the financial services industry. Co-operative Bank Group managing director and chief executive Gideon Muriuki said financial institutions need to innovate constantly in order to align themselves to new technologies, such as block chain, which are designed to enhance operational efficiency and customer satisfaction.

“We have over the years worked hard to build a model that enables us to stay close to the customer, listen to their needs and gain insights on their long-term goals. We can confidently say that we are offering the most competitive value proposition that SMEs and retail clients can expect to get in this market,’said Muriuki.

The bank recently secured a substantial $150 million (Sh15.2 billion) line of credit from the International Finance Corporation for on-lending mostly to SMEs on favourable terms.

Kenya Bankers Association CEO Dr Habil Olaka further acknowledged the achievements made in the industry over the years and commended all stakeholders for making the banking sector in the East African region a growing success.

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