This archive report was first published on 26 August 2020.
Published on August 26, 2020, Co-operative Bank has acquired Jamii Bora, renaming it Kingdom Bank. The acquisition has seen significant changes to the new lender's board.
Antony Mburu, a respected senior executive in the banking industry with over 25 years of experience, has taken over as the chief executive officer. He joins from Co-op Bank Group, where he was the director of credit management.
Co-operative Bank CEO Gideon Muriuki stated, “Anthony Mburu joins from Coop Bank Group where he was the director – credit management and is a respected senior executive in the banking industry with over 25 years experience in the region, notably in risk and credit management.”
Samuel Kimani's nine-year stint at the helm of Jamii Bora has come to an end. Margaret Karangatha, who sits on Co-op Bank's board, will now chair the new bank's board. She is the executive director of The Lead Consortium Ltd.
Co-op Bank received regulatory approvals to acquire a 90 per cent stake in the tier three lender, a move that will see it control most of its operations.
