Inside Politics

Co-op Bank CEO Gideon Muriuki tops EMEA finance award

Wednesday, October 27th, 2021 00:00 |
Co-operative Bank Group Managing Director & CEO Dr Gideon Muriuki. PHOTO/COURTESY

BANKING AWARD: Co-operative Bank Group Managing Director & CEO Dr Gideon Muriuki has been named Best Bank CEO in Africa during this year’s African Banking Awards.

Organised by EMEA Finance, the awards recognise financial institutions leaders through their client focus and leadership, continued profitability and support for local and transnational corporations.

The awards also consider corporations ability to deliver affordable credit to the retail and wholesale market.

Financial award

However, this year’s awards had a unique perspective in light of the Covid-19 pandemic, for which the Co-op Bank Group CEO was recognised for implementing key strategies to address challenges facing both businesses and households.

“Dr Muriuki was recognised for the bold decision to sustain the payment of dividends to shareholders despite Covid-19, which offered a critical relief and most timely support to the over 15 million-member Cooperative movement,” read the statement in part.

To manage the disruption caused by the pandemic, the bank undertook a deep analysis to identify inefficiencies, which were resolved through redeployment of staff and other resources.

The EMEA Awards also awarded Co-op Best Bank in Kenya  and the Best Asset Manager award went to Co-opTrust Investment Services Limited, a wholly owned subsidiary of Co-op Bank. 

With Sh181 billion in assets under management, Co-op Trust is one of the largest and most successful locally-owned asset management firms in Kenya.

The successful acquisition and stabilisation of Jamii Bora Bank which is currently operating as Kingdom Bank offered much-needed stability to the local financial sector.

Muriuki also impressed the EMEA Awards committee for driving sustainable credit-growth models that are designed in line with the Credit Risk Adaption Project advised by global consulting firm McKinsey.

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