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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