Co-operative Bank of Kenya has announced a major restructuring that will see it transition into a non-operating holding company. The move will result in a new name, Co-opbank Group PLC, subject to approvals.
The bank said the new structure will separate ownership from operations. A non-operating holding company will control subsidiaries without engaging in direct banking activities.
Under the plan, Co-opbank Group PLC will remain listed on the Nairobi Securities Exchange. It will oversee all group businesses across Kenya and the region.
A new subsidiary, Co-Op Bank Kenya Ltd, will handle local banking operations. Group CEO Gideon Muriuki confirmed the changes on April 21.
He said the restructuring will improve efficiency and support long-term expansion. He added that the model creates a scalable platform for diversified financial services.
The bank reported a pre-tax profit of Ksh40.3 billion for the year ending December 31, 2025. It also holds total assets valued at Ksh827.4 billion.
The group controls several subsidiaries, including Kingdom Bank Ltd and Co-optrust Investment Services Ltd. It also holds stakes in CIC Insurance Group and Fleet Africa Leasing.
All subsidiaries and investments will fall under the new holding company structure. This aligns the group with global financial models used by large banking institutions.
The restructuring requires approval from shareholders at the next AGM in May 2026. Regulators including the Central Bank of Kenya and Capital Markets Authority must also approve.
The bank urged investors to exercise caution when trading its shares during the transition. The process remains subject to regulatory and statutory approvals before full implementation.
