“This corporate reorganisation is subject to shareholders’ approval at the next AGM in May 2026, and necessary statutory approvals from the Central Bank of Kenya, Capital Markets Authority and other regulatory agencies,” said Dr Gideon Muriuki, CEO of Co-operative Bank of Kenya.
The bank plans to reorganize into a Non-Operating Holding Company (NOHC) structure. The listed entity will be renamed ‘Co-op Bank Group PLC’. A new subsidiary, ‘Co-op Bank Kenya Limited’, will handle licensed banking operations in Kenya.
As of December 2025, Co-op Bank holds total assets of KSh 827.4 billion. It operates 222 branches across Kenya and South Sudan. The bank has a 64.56% stake held by Co-op Holdings Co-operative Society Limited.
The restructuring aims to enhance operational efficiency and support regional expansion. The South Sudan unit reported a profit before tax of KSh 236 million for FY2025.
Dr Muriuki emphasized that the NOHC model provides a scalable platform for expansion into diversified financial services and other regional markets.
This approach mirrors that of its predecessors: enhanced operational efficiency and a more robust structure for sustained growth.
The restructuring will place all subsidiaries under a clean group umbrella—this offers greater flexibility for capital allocation across subsidiaries and future regional banking expansion.
Co-op Bank has set ambitious targets under its 2025-2029 strategic plan, aiming to grow total assets beyond KSh 1 trillion.
It is noteworthy that Co-op Bank is the sixth NSE-listed banking group to adopt the NOHC structure.
Details remain unconfirmed regarding specific timelines for regulatory approvals. However, the upcoming AGM on May 15, 2026, will be crucial for moving forward with this restructuring plan.
