This archive report was first published on 1 December 2019.
Co-op Bank CEO Gideon Muriuki has made a significant investment in the bank, buying 11.1 million shares worth Sh179 million.
According to regulatory filings, Mr. Muriuki's stake in the bank rose to 1.96 percent (114.9 million shares) in August, up from 1.77 percent (103.8 million shares) in February.
Mr. Muriuki has a history of buying and selling shares in Co-op Bank, often taking advantage of market fluctuations to increase his stake in the bank.
His latest purchase came after a decline in the bank's share price, which had fallen to lows of Sh11.5 on August 21. However, the share price has since rallied, closing at Sh16.05 on Friday.
The bank's share price has been boosted by increased demand for bank shares following the scrapping of lending rate controls.
As a result of his latest purchase, the market value of Mr. Muriuki's stake in the bank has increased to Sh1.8 billion.
Mr. Muriuki has remained the single largest individual investor in Co-op Bank since the company went public in 2008.
