Banking and Finance 2020 Review: Co-operative Bank Surges Ahead

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Co-operative Bank Best Lender Three Years Running

By Boy Matumbai, Nairobi – December 20, 2020

Co-operative Bank landed a bagful of continental and global Banking and Finance Awards in the year 2020.

The Co-operative Bank was named Kenya’s Best Lender in the year 2020 – a record three years in a row.

The financier was recognised as the Best Lending Bank in Kenya by Europe, Middle East & Africa (EMEA) Finance.

The EMEA Finance highlights the best Commercial and Investment Banks across the African continent as well as Brokers and Asset Managers. The award came on the heels of earlier recognition of Co-op Bank’s Energy Manager being named Energy Manager of the Year 2020 in Sub Sahara Africa.

The EMEA Awards appreciates financial organisations that continually expand their profitability while delivering affordable loans to retail and wholesale markets and consequently supporting local and transnational corporations do business. This was the thirteenth edition of these banking awards.

A statement from the Award organisers said. “The year 2020 presented complex challenges and difficult operating environments the likes that have not been seen for many decades. We thank all of this year’s participants in the submission process for bringing to our attention the many impressive initiatives that you have and continue to initiate in support of customers, communities and the public sector as we all work through and towards better and safer times.”

It added. “This year’s submissions demonstrate that African banking is in good shape, and can weather a severe crisis. The digital advances that have been made over the past decade are proving valuable and investments made are paying dividends pushing change across the financial landscape,”

The award came in quick succession to recent accolades that saw the Co-op Bank’s Energy Manager Albert Ouma named Energy Manager of the Year in Sub Sahara Africa by the Global Association of Energy Engineers for his outstanding accomplishment in promoting the principles and practices of energy management.

Recently, the lender joined the global financial community by signing up for the United for Wildlife 2018 Mansion House Declaration. A Task Force that is committed to fight against illegal trafficking in wildlife through development of mechanisms that identify illegal wildlife trade financial crimes and compliance programs to combat these crimes.

Co-op Bank was listed Overall Winner of the 2019 Kenya Bankers Association (KBA) Sustainable Finance Catalyst Award. This award recognises financial organisations practising sustainable banking products which have a positive impact on the financial sector, the economy, the environment and the society.

In June 2019, the bank was also named Best Bank in Sustainable Finance in Kenya during the 2019 Energy Management Awards hosted by the Kenya Association of Manufacturers.

It was also honoured as Overall Winner in Environmental Sustainability Reporting at the 2019 East African Financial Reporting (FiRe) Awards.

“As a bank owned predominantly by over 15m-member Co-operative Movement, we have not only delivered shared prosperity today, but also build an awareness and prudence to avert decisions that may put future generations in jeopardy,” said Group Managing Director & CEO Co-operative Bank, Gideon Muriuki.

Mr Muriuki pledged to keep a firm pace with fast moving technological development in the banking industry while maintaining a human approach to meet the core client co-operative movement demands.

Other winners recognised at the EMEA Finance event included Stanbic Bank (Best Investment Bank ) and EFG Hermes Kenya which was recognised for being the best broker.