This archive report was first published on 15 November 2019.
On November 15, 2019, the Co-operative Bank of Kenya was announced as the overall winner of the Kenya Bankers Association 2019 sustainable finance catalyst awards.
The bank, which has the third largest assets in the region, beat Equity Bank to second position and the Kenya Women Finance Trust was ranked third.
Co-operative Bank CEO Gideon Muriuki said the lender had fully integrated sustainability in its business model to ensure the lives of future generations are secured.
Speaking at the awards ceremony, Central Bank of Kenya Governor Patrick Njoroge urged financial institutions to balance their business goals with socio-environmental and economic concerns.
The awards were created to recognize institutions that practice sustainable finance, which has a direct positive impact on the financial sector, the economy, the environment, and society at large.
Category one featured the best practice in sustainable finance and sustainability through policy and governance, while category two had client studies on financing micro, small, and medium-sized companies and financing commercial clients.
Co-operative Bank's feat comes a day after it posted a 6% increase in after-tax profit for the first nine months ending September 2019 to KSh 10.9 billion.
