Co-op Bank feted as the best lender
Co-operative Bank of Kenya has been named the best lender in the East African region for overall excellence in banking.
The lender, which is owned by co-operative societies, was declared the Best Regional Bank in East Africa in the 2022 African Banker Awards held in Ghana.
Last year, the award was won by Equity Bank, also a Tier One bank.
This year's awards were sponsored by the African Guarantee Fund, Bank of Industry (Nigeria) and the Trade Development Bank as well as Access Bank.
Besides Kenya, Co-op Bank also has a presence in South Sudan. In the first three months of 2022, the bank reported a net profit of Sh5.8 billion, buoyed by non-interest income and cost management.
This was a growth of 65.7 per cent from a profit after tax of Sh3.5 billion in the first quarter of 2021.
This year's awards were sponsored by the African Guarantee Fund, Bank of Industry (Nigeria) and the Trade Development Bank as well as Access Bank.
The award patron is the African Development Bank (AfDB), whose annual meetings conclude tomorrow.
AfDB is celebrating 50 years of the African Development Fund, which is undergoing a new replenishment round.
