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Co-op bank basks in international award

23 April 2014, 12:14

Nairobi - The Co-operative Bank of Kenya is revelling at two international awards a prominent international think-tank has bestowed on it.

The financial institution received two international banker awards in innovation in retail banking and Best Chief Executive Officer (Africa).

The awards conferred by the International Banker magazine, are awarded to people and innovations within financial services that drive the industry forward.

The international bankers’ awards recognize banking excellence globally. Honoured with a dual award, to acknowledge and celebrate innovation and leadership, the Co-operative Bank of Kenya topped the awards lists this year.

“The Co-operative Bank of Kenya is one of Kenya’s fastest growing banks and has risen to become one the country’s biggest five banks. Having been in business for over forty years, it has seen its highs and lows but has overcome these by continually evolving its approaches, which can be especially difficult for co-operatives who typically struggle to drive innovation and internal reform,” a spokesperson for International Banker explained.

The International Banker spokesman said, “It is largely thanks to the work of Dr Gideon Muriuki, the bank’s CEO, who has been recognised for his tireless work and commitment in driving the Co-operative Bank of Kenya to new heights.”

Muriuki was appointed CEO in 2001 and has since turned around the bank from a loss-making firm to one of East Africa’s fastest-growing and most profitable banks.

With Dr Muriuki at the helm, the bank has achieved consistent year-on-year growth in results, substantial growth in customer base and expansion of services into Sudan – a lucrative growth area for the Kenyan banking sector.

He has furthermore set up numerous bank-led initiatives to benefit the community.

 – CAJ News

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