Co-operative Bank of Kenya eyes regional markets to grow

Co-operative Bank of Kenya is seeking to expand into neighbouring countries. The lender announced Friday during its Annual General Meeting (AGM) that it intends to expand to Rwanda, Uganda, Ethiopia and Tanzania. Already, the bank has made a strong foothold in South Sudan where in the last financial year, it made a profit before tax of Sh850 million.

Co-op Bank CEO Gideon Muriuki

“We intend to make our presence felt regionally, since neighbouring markets are welcoming and seem to respond positively to Kenyan banks,” Chief Executive Officer Gideon Muriuki said during the AGM at the Bomas of Kenya. However, Muriuki said the bank intends to concentrate more on putting up shop in Ethiopia due to it’s large population.