Breakdown of Co-op Bank’s virtual 14th Annual General Meeting

May 27, 2022 at 19:02
Breakdown of Co-op Bank's virtual 14th Annual General Meeting

Co-operative Bank of Kenya today virtual held its 14th Annual General Meeting.

This is the third time the meeting has been held virtually following amendments to the law governing annual general meetings, following the Covid-19 epidemic.

Co-op Bank Group Managing Director Gideon Muriuki during the virtual meeting

The overwhelmingly successful meeting was attended by over 16,000 shareholders from across the globe.

Shareholders welcomed the dividend payment scheduled to hit their accounts on 17Th June 2022.

The shareholders were appreciative of the Board of Directors’ divided policy that balances between the need for additional capital and shareholders immediate interest for earnings.

They particularly commended the Group Board for the kes 100billion retained earnings the bank has accumulated for future growth through this policy.

Kingdom Bank – one of the best performing Co-op Bank’s subsidiaries.

Speaking at the meeting the Group Managing Director, Dr. Gideon Muriuki pointed out to the shareholders that the bank was confident of a good performance in 2022 full year.

The MD estimated that the bank will surpass the over 22Billion profit registered in 2021, “ already in the first quarter of 2022 the bank has registered a profit before tax of kes 7.8Billion which is an indication of better days ahead.”

The meeting was chaired by the Bank Chairman Mr. John Murugu and was also attended by the Vice Chairman Mr. Macloud Malonza among other board members who attend virtually.

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