This archive report was first published on 17 September 2019.
On September 17, 2019, Co-operative Bank announced plans to open five new branches in Nairobi, as part of its expansion and growth drive.
The bank, one of Kenya's most formidable financial institutions, will open the new branches in Nairobi, Kapenguria, Maralal, and Chogoria, bringing banking services closer to customers.
According to Co-op Bank chief executive officer Gideon Muriuki, the bank believes in a multichannel strategy that offers a fulfilling experience to customers.
"We believe there is no one single channel that will displace all others. Rather, it is the investment in an optimal and balanced multichannel strategy that will offer a fulfilling experience to the customer," said Mr. Muriuki.
The new branches will take the bank's total number of branches in the country to 160, creating more opportunities for customers to access banking services.
Already, Co-op Bank has set up a host of branches in targeted areas within the country, ensuring that Kenyans can access banking services easily and on the go.
Co-op Bank's expansion plans come on the heels of a successful financial year, with the bank announcing an annual profit before tax of Sh. 18.2 billion in March 2019, representing a growth of 11 per cent from the previous financial year.
