Co-operative Bank of Kenya Limited has notified shareholders that it will hold the 13th Annual General Meeting(AGM), through virtual means on Friday, Aug 20th 2021, at 11.00 am.
Top on the list of businesses that co-operative bank owners will transact include ratifying a first and final dividend of KSh 1.00 per share or a total of KSh 5,867,180,000 to be paid to shareholders for the 2020 financial year.
Co-operative Bank shareholders to re-elect three directors
Shareholders will also ratify Patrick K. Githendu, Julius Sitienei and Godfrey K. Mburia as directors. Co-opholdings Co-operative Society, the lender’s majority and strategic shareholder, had already nominated them for re-election.
Registration for the AGM opens on the 28th day of July 2021 at 9:00 am and will close on the 18th day of August 2021 at 11.00 am
According to its audited financial statements for the financial year ended Dec 31 2021, C0-operative Bank of Kenya Limited realised net earnings of KSh 10.8 Billion compared to KSh 14.3 Billion in 2019, a decline of 24.5%.
The lender’s balance sheet size grew to KSh 537.1 Billion in 2020 from KSh 457.1 Billion in 2019, while loans disbursed to customers hit KSh 286.6 Billion in 2020 from KSh 266.7 Billion in 2019.
Net Interest Income increased to KSh 36 Billion in 2020 from KSh 31.9 Billion in 2019 while Pre-Tax Profit declined to KSh 14.3 Billion from KSh 20.7 Billion during the period under consideration.
The Co-operative Bank of Kenya Limited is primarily involved in corporate and retail banking as well as investment and asset management services.
With a market capitalization of KSh 78.9 Billion, the Company’s subsidiaries include Co-op Consultancy & Insurance Agency Limited, Co-optrust Investment Services Limited and Kingdom Securities Limited.
The Co-operative Bank of Kenya is the sixth most traded stock on the Nairobi Securities Exchange(NSE) over three months (Apr 27th – Jul 27th, 2021).
COOP has traded a total volume of 47.1 Million shares—in 4,259 deals—valued at KSh 597 Million over the period, with an average of 747,816 traded shares per session.