The Co-operative Bank has overtaken KCB Group to become the second most valuable bank in Kenya at the Nairobi Securities Exchange (NSE).
This follows Co-op Bank’s stable share price that is current holding at Sh. 11.85, in contrast to the falling share price of KCB Group which on Thursday was at a low of Sh. 20.9 per share.
These prices give Co-op Bank a market valuation of Sh. 69.5 billion while KCB Group had a valuation of Sh. 67. 1 billion.
In the same vein, market analysis shows that the Co-op Bank stock price has remained largely stable since the start of the 2023 financial year.
For instance, at the start of the year, KCB Group’s market value was ahead of Co-op Bank by Sh. 52.2 billion. Since then, the KCB Group stock lost Sh. 56 billion in paper wealth. In contrast, Co-op Bank stock price lost only Sh. 1.4 billion over the same period.
In addition to this the Co-op Bank shares have established themselves as having one of the lowest share price volatility at the local bourse.