Co-op Bank CEO Gideon Muriuki Honoured by Kabarak University 

The Cooperative Bank CEO Dr Gideon Muriuki seen here with his family

Under Gideon Muriuki’s watch, the bank climbed from a KSh. 2.3 billion loss-making institution to making a KSh. 5.6 billion in profit in the first nine months of 2001

By The Weekly Vision Online

One of Kenya’s fastest-growing lenders and top digital outlet Co-operative Bank of Kenya has done it once again! The bank rated tops in the East and Central African region and the continent’s largest co-operative bank has in the last 21 years been able to shrug off disabling losses into resounding profits, thanks to Group Managing Director and CEO Gideon Muriuki.

Now Muriuki has scooped another feather on his cap this time, an Honorary Degree of Doctor of Businesses Leadership (Honoris Causa) from Kabarak University in recognition of his exemplary performance in entrenching the co-operative banking model in the Kenyan financial market and the demonstrated leadership in sustainable growth over the last few years.

Under his watch, the Co-operative Bank of Kenya has climbed from a KSh. 2.3 billion loss-making entity to a KSh. 5.6 billion in profit in the first nine months of 2001. Mr Muriuki’s specific mandate at the point of engagement was to return the bank to profitable trading away from massive losses. 

The success of Co-operative Bank cannot be appreciated by simply looking at its good financial performance alone, rather its strength lies in the transformative influence it has had in the lives of millions of Kenyans who are members of the cooperative movement- Gideon Muriuki

The Bank has since increased its customers base from 125,000 to the now 2.4 million customers currently, grew its branch network from 30 branches to over 94 and more importantly unique interconnectivity with SACCO’S to reach over 9million members of the movement.

Commenting on his award Muriuki said: “The success of Co-operative Bank cannot be appreciated by simply looking at its good financial performance alone. Rather, its strength lies in the transformative influence it has had in the lives of millions of Kenyans who are members of the cooperative movement. It is a great privilege for me to serve an institution that has made such a tremendous contribution to the improvement of the welfare of so many Kenyans. I take this award as an affirmation that service with integrity and honour will always be rewarded in the fullness of time.”

Muriuki is also credited with the successful restructuring of the Bank and its listing on the Nairobi Stock Exchange at a time when even the most optimistic analysts were predicting a poor subscription of the Initial Public Offer. The Bank’s IPO was awarded the Best IPO in Africa in 2021 by Africa Investor Awards. Recently the Bank was awarded the Best Bank in Kenya by the Financial Times of London.

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