Nairobi Securities Exchange (NSE)-listed lender Co-operative Bank of Kenya will be reorganising its corporate structure into a Non-Operating Holding Company arrangement, separating its listed parent entity from its licensed banking operations under a group holding structure.
According to a cautionary notice issued by the bank’s board and approved by the Capital Markets Authority (CMA), the new Non-operating Holding Company will be renamed Coop Bank Group Plc. All licensed banking business, specifically in Kenya, will be undertaken by a new subsidiary called Coop Bank Kenya Limited.
The reorganization is subject to shareholder approval at the forthcoming Annual General Meeting on May 15th, as well as regulatory clearance from the Central Bank of Kenya, the Capital Markets Authority, the Registrar of Companies, and other relevant regulators.
Specifically, according to the cautionary notice, the new structure will enable a separate CEO to run the Kenyan banking side of the business, enabling the overall CEO to focus on group-wide expansion.
With around 65% of the bank owned by Kenya’s 15-million-strong cooperative movement, regional expansion by the bank will mean more Saccos from outside Kenyan borders being brought into the bank’s fold.
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The cautionary notice signed by group managing director and CEO Gideon Muriuki states that it will involve “synergizing group operations for further growth and expansion.”
Last year, the Co-op Bank of Kenya reported record profits of Sh34.8bn for the financial year 2024, an increase of 7.5% compared to 2023. The bank said this was the best financial performance in its history, with a 10.7% growth in assets and 12.5% rise in total operating income.
Co-operative Bank of Kenya currently holds total assets of KSh 827.4billion as at December 2025, with a balance sheet that grew 11.3% year-on-year.
The group operates 222 branches across Kenya and South Sudan, supported by 620 ATMs and cash deposit machines, 16,793 Co-op Kwa Jirani agents, and 6,235 staff.
Strategic ownership rests with Co-op Holdings Co-operative Society Limited, which holds a 64.56% stake representing Kenya’s 15-million-member cooperative movement, with the remaining 35.44% held by minority shareholders through the NSE.
Beyond its core Kenyan banking operations, the group controls seven subsidiaries and associates spanning banking, insurance, fund management, stockbroking, and leasing. It holds a 90% stake in Kingdom Bank Limited, an MSME-focused lender with 27 branches, and a 51% controlling interest in Co-operative Bank of South Sudan, which operates six branches across Juba, Kololo, Malakia, Nimule, Wau, and Gudele
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The South Sudan unit posted a profit before tax of KSh 236 million in FY2025, a sharp recovery from KSh 11 million in FY2024, on total assets of KSh 11.2 billion.
Other subsidiaries include Co-op Bancassurance Intermediary Limited (100%), Co-optrust Investment Services Limited (100%), and Kingdom Securities Limited (60%). Associates include Co-operative Insurance Society Limited at 33.41% and Co-op Bank Fleet Africa Leasing Limited at 25%.
By Peter Mukunga
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