The Co-operative Bank of Kenya has been named as the overall winner of the Kenya Bankers Association 2019 sustainable finance catalyst awards.
The event was held at Serena Hotel and was graced by the governor of the Central Bank. Equity Bank was position two while the Kenya Women Finance Trust was ranked third.
On Thursday, the bank posted Sh10.9 billion net profit in the third quarter (Q3) of 2019 driven by 33 percent growth in non-interest income, which stood at Sh14.1 billion.
Dr. @njorogep The need for firms in the financial services sector need to balance their business goals with the socio-environmental and economic concerns has been the clarion call to mainstream our institutional operations with the future in mind. #SFICatalystAwards pic.twitter.com/dNLaZJLa93
— Kenya Bankers Association (KBA) (@KenyaBankers) November 15, 2019
The Group posted a profit before tax of Sh15.45 billion in Q3 2019 compared to Sh14.64 billion it recorded in a similar period in 2018.
Speaking during a shareholders briefing, group managing director and chief executive Gideon Muriuki said total operating income grew by nine percent from Sh32.3 billion in Q3 2018 to Sh35.2 billion.
He said the bank would continue to deliver good performance to it’s growing 8.7 million account-holder base through digital banking, the basket of innovative financial solutions, efficient delivery of services and multichannel access to retain market position and deliver business growth and profitability in the days ahead.
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 the society at large.
https://twitter.com/KenyaBankers/status/1195221201972584449
Central Bank of Kenya Governor Patrick Njoroge who spoke at the awards ceremony urged financial institutions to balance their business goals with the socio-environmental and economic concerns.