Co-op Bank recognised as best retail and SME bank
Nairobi, Kenya: Co-operative Bank of Kenya was recognized as the best retail bank in Kenya at the fourth edition of the Banker Africa- East African Banking Awards 2018 which was hosted at Radisson Blu Hotel Nairobi, on May 10.
Co-operative Bank was a big winner, scooping three key awards, namely The Best Retail Bank in Kenya, The Best SME Bank in Kenya and the Best Investment Institution in Kenya.
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Commenting on the awards, the Group Managing Director and CEO Co-operative Bank Gideon Muriuki said, “We have over the years worked hard to build a model that enables us to stay close to the customer, listen to their needs and glean insights on their long-term goals that we can confidently say we are offering the most competitive value proposition that SMEs and Retail clients can expect to ever get in this market.”
Kenya Bankers Association Chief Executive Officer Habil Olaka commended all partners for making the banking sector in the East African region a glowing success. Acknowledging the achievements made in the industry over the years.
Habil also encouraged banks to improve their cyber-security
“As we invest in technology to increase the speed and convenience of our services, we recognize that innovation and technology is a double-edged sword. The other end being increased tech-enabled fraud. In light of the rising challenge of cyber-security, I urge banks to invest in securing their systems and enhancing staff capacity” Habil said.
Co-op Bank already enjoys significant presence in the SME and Retail banking space. It is the recognition of the unique funding needs of SMEs that the bank negotiated and secured long-term funding from international development finance institutions essentially to fund SMEs.
Most lately, the bank recently secured a substantial Sh15.2 billion (US$150 Million) line of credit from the International Finance Corporation (IFC) for on-lending mostly to SMEs in favourable terms.
The winners of the Banker Africa Awards are selected by registered readers of CPI financial products and services, who are peers in financial services.
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