The Co-operative Bank chief executive officer Dr. Gideon Muriuki has been named the best bank CEO in Africa. Dr. Muriuki who is the the Group Managing Director & CEO at Co-op Bank scooped the best bank CEO award during the 2021 edition of the African Banking Awards that were organised by EMEA Finance.
The EMEA Finance Awards recognizes corporate leaders and financial institutions which, through their client focus and sound leadership, continue to increase profitability, deliver affordable credit to the retail and wholesale markets, and support local and transnational corporations do business.
This year’s awards had a unique perspective in light of the pandemic, for which Dr. Muriuki was recognized for implementing key strategies to address challenges facing both businesses and households.
Dr. Muriuki was recognized for the bold decision to sustain the payment of dividends to shareholders despite the pandemic, which offered a critical relief and timely support to the over 15 million-member Cooperative movement.
In addition, the award recognized the decision by Dr. Muriuki not to push for staff retrenchment and opting to retain full staff complement during the pandemic.
To manage the disruption caused by the pandemic in 2020, the bank undertook a deep analysis to identify inefficiencies, which were resolved through redeployment of staff and other resources.
The awards also recognized the successful acquisition and stabilization of Jamii Bora Bank which has since been renamed as Kingdom Bank.
The EMEA Awards committee also feted Dr. Muriuki for driving sustainable credit-growth models that are designed in line with the Credit Risk Adaption Project as advised by global consulting firm McKinsey. In addition to the Best Bank CEO in Africa award to Dr. Muriuki, the EMEA Awards also awarded the Best Bank in Kenya Award to the Co-operative Bank. The Best Asset Manager award also went to Co-opTrust Investment Services Limited, which is a wholly owned subsidiary of Co-op Bank. With Sh. 181 billion in assets under management, Co-op Trust is one of the largest and most successful locally-owned asset management firms in Kenya.