Christine Kagendo 
Co-operative Bank of Kenya (Coop-Bank) has proposed a new corporate structure that will see the lender renamed as Co-op Bank Group Plc, a non-operating holding company, while a new subsidiary, Co-op Bank Kenya Limited, will handle core banking operations in the country.
The changes, which await approval from shareholders, CBK, CMA, and other regulators, set the stage for a separate CEO to lead the Kenya banking unit, allowing current CEO Gideon Muriuki to focus on group expansion.
The lender signals plans to diversify into new regional markets beyond South Sudan, following a similar path taken by KCB and Equity before their regional growth.
Co-op Bank owns a 51 per cent stake in Co-operative Bank of South Sudan,fully owns Co-op Bancassurance Intermediary and Co-optrust Investment Services,and holds stakes in Kingdom Bank, Kingdom Securities,Co-operative Insurance Society,and Co-op Bank Fleet Africa Leasing.
The lender’s net profit rose 16.9 per cent to Sh29.75 billion, with a proposed final dividend of Sh1.50 per share.
