Browsing: Co-operative Bank of Kenya

Co-op Bank Tops In The 2022 Sustainable Finance Initiative Awards www.theexchange.africa

In the category of banks with the best case study, Standard Chartered Bank of Kenya took first place, followed by Absa Bank in second place and I&M Bank in third place, in the category of banks with the most nuanced case study in bank operations.

Through productivity programmes and the effective use of operational resources and energy like paper, water, and waste management, including electronic waste, the lenders were recognised in this category for their dedication and investment in ensuring the optimised management of both financial resources and natural capital.

KWFT won Promoting gender inclusivity

In a category that evaluated lenders’ efforts in encouraging women to be formally included in the financial services sector, creating opportunities for female employees to take leadership positions, and empowering female entrepreneurs,

KWFT was named the best bank for promoting gender inclusivity in the industry. Position two went to SBM Bank, and position three went …

  • Co-operative Bank has posted KSh 11.6 billion compared to Kshs. 9.8 billion reported in the third quarter of 2020
  • The bank’s total assets grew by Kshs. 82 Billion to Kshs. 592.9 Billion compared to Kshs 510.9 Billion in the same period last year
  • Customer deposits grew by 12% from Kshs. 375.5 Billion to Kshs 420.4 Billion while borrowed funds grew by Kshs. 17.7 Billion to Kshs 43.8 Billion from Kshs.26.2 Billion in 2020

Co-operative Bank Group has reported KSh 11.6 billion compared to Kshs. 9.8 billion reported in the third quarter of 2020, exceeding pre-pandemic performance.

In a statement, the bank says the performance is in line with its strategic focus that supports growth, resilience and agility.

During the period under review, the bank’s total assets grew by Kshs 82 Billion to Kshs. 592.9 Billion compared to Kshs 510.9 Billion in the same period last year.

At the same time, …

Borrowers in Kenya should now expect interest rates as high as 30 per cent following the repeal of the interest rate cap law.

Parliament failed to raise the required quorum to defend the rate cap law which came into place in September 2016.

There has been a push by bankers, mainly through their lobby group-Kenya Bankers Association (KBA) to have controls on rate cap revised.

READ:Kenyan Banks begin feeling the interest rates cap effects

The law which has been in place for the last four years has controlled lending rates by commercial banks at four percentage points above the Central Bank of Kenya (CBK) Rate.

CBK has retained its benchmark lending rate at 9.0 per cent for the sixth straight time since bringing it down in July 30 2018.

This means banks could not charge loan at rates above 13 per cent, a move that was aimed at sparing …