Co-operative Bank of Kenya Opens New Branch in Luanda, Vihiga County

Co-operative Bank has expanded its physical presence by opening a new branch in Luanda town, Vihiga County. This expansion is part of the bank’s medium-term strategy focused on local growth.

The new branch was officially inaugurated on Thursday, with prominent figures such as former Speaker of the National Assembly Kenneth Marende and Mr. Peter Kirugu, Head of Branch Banking, in attendance. In a statement to the media, the bank expressed gratitude to everyone who participated in the event, highlighting that the opening marked a significant milestone in their journey to better serve Kenyans.

“A huge thank you to everyone who joined us for the grand opening of our Co-op Bank branch in Luanda. The ribbon-cutting ceremony marked the beginning of a new chapter in our journey to serve you better,” Co-op Bank stated.

In recent times, Co-op Bank has opened branches in various towns including Thika, Meru, Kamakis, Kimana Town in Kajiado, and Kenol Town. This widespread expansion not only enhances the bank’s presence but also strengthens its capacity to meet the diverse needs of customers across different regions.

Co-op Bank branches serve as Service Hubs, catering not just to their customers but also to the bank’s subsidiary network including Saccos, especially those running FOSAs, now numbering 479 countrywide, and 23,000 bank agents who depend on their cash management services, training, and supervision.

Co-op Bank Chief Executive Officer Gideon Muriuki, in an earlier interview, emphasized that the bank continues to open new branches despite relocating 90% of transactions online. He pointed out that their large base of retail clients and partners, including individuals, Saccos, and agents, require cash management and other support services.

“The emerging theory that bank branches and ATMs will cease to exist is largely wishful thinking driven by a desire to cut brick-and-mortar costs, and not by credible customer feedback on the service outlets through which customers prefer to be served,” Muriuki stated.