Reason Behind Co-op Group Bank Renamed Jamii Bora to Kingdom Bank

Kingdom Bank

TweetShare5SharePin27 SharesKingdom Bank: There is a unique artistic image of a lion on a hill overlooking the land below – with a ‘This is Kingdom Business’ proclamation at the main reception of Co-operative Bank Group head office in Nairobi. In the main boardroom, there is a prominent scroll on the wall that displays an August 2008 Declaration by the bank’s Board of Directors; “Co-operative Bank shall be the Kingdom Bank through which God will bless His people of Kenya.” Co-op Bank Group MD Gideon Muriuki, in an advertorial placed in…

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The Central Bank of Kenya has given the Co-operative Bank of Kenya the green light to acquire Jamii Bora Bank.

Central Bank of Kenya

TweetShareSharePin11 SharesThe regulator in a statement said that the 90 percent acquisition of the bank should be completed by end of this month. “CBK announces the acquisition of 90 percent of shareholding of the Jamii Bora Bank by Co-op Bank effective August 21, 2020, following further approvals by among them the Jamii Bora shareholders and the National Treasury,” CBK said. Last month, Jamii Bora Bank shareholders y backed the proposal in that allowed Co-op Bank to acquire a 90 percent stake and rights to appoint a new board to run…

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Co-operative Bank Of Kenya Acquires 90% Of Jamii Bora Bank Limited. What it Means to Bankers and Employees.

Jamii Bora

TweetShareSharePin11 SharesCo-op Bank has been pleased to note that the shareholders of Jamii Bora Bank, have pursuant to an Extra-Ordinary General Meeting held on 1st July 2020 unanimously approved Co-op Bank’s offer to acquire 90% of the bank. This will be through the subscription of 224,153,154 new class of Ordinary Shares that would enable Co-op Bank to inject Kshs.1 Billion and appoint a Board to run the business. The Co-operative Bank Group is one of the largest banks in the region with an asset base of over Kshs.470 billion, predominantly…

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Leading Savings & Credit Co-operatives in Kenya, Harambee Sacco Launches Instant Card-Issue to Its Members

Harambee Sacco

TweetShare25SharePin25 SharesOne of the leading Savings & Credit Co-operatives in Kenya, Harambee Sacco has today launched instant card-issuance to members. This means that members of Harambee Sacco can, from today apply for and instantly receive a Visa Debit card and immediately start using the card to transact in the usual way at any Visa-branded outlet including ATMs, Co-op Bank Agents or to shop at Visa-branded outlets and online stores. This instant card-issue system is enabled by the Co-operative Bank. It gives the Sacco the capability to print Visa Debit Cards…

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I&M, Co-op Bank top Bank Rating for First quarter 2020 – Cytonn Research.

top Bank

TweetShare9SharePin9 SharesTop Bank: Kenya’s banking sector showed resilient performance despite the tough operating environment which was largely attributable to persistent revenue diversification. This is according to an analysis of the financial performance of listed banks done by the Cytonn Financial Services Research Team for the first quarter of this year. The report has also carried out a comprehensive ranking of the listed banks on the basis of franchise value and also on future growth opportunity, see table; Bank Value Score Value Score Score Rank Ranking I&M Holdings 51 2 21.6…

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“Cooperative Bank Wanakula Ya Halamu” Customers Raise Alarm Over Money Loss From Their Bank Account.

Cooperative Bank

TweetShare49SharePin352 SharesCooperative Bank on Tuesday, June 9 responded after a complaint from a man who claimed to have lost Ksh468,000 was widely shared on social media by her girlfriend. The man accused various workers at the bank including the Cooperative Bank CEO Dr. Gideon Muriuki of somehow orchestrating the withdrawal of all his funds from his account in collaboration with scammers. Seeking to set the record straight, Co-operative Bank Head of marketing and communications, Ngumo Kahiga, asserted that the allegations were false and unfounded but the victim has this to say.…

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