Cooperative Bank of Kenya is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator. The bank has the second highest customer base in Kenya with over 3.5 million accounts as of June 2013. In 2010, the bank was awarded "Best Bank of Kenya" by the London Financial Times due to their excellent growth.
Overview
The bank serves the banking needs of individuals, small businesses and large corporations, focusing on the needs of cooperative societies in Kenya. Cooperative Bank is a large financial services institution. As of March 2015, its total assets were valued at approximately US$3.345 billion (KSh309.6 billion).
At 31 December 2013, its shareholders' equity was valued at approximately US$425 million (KES:36.8 billion).As of May 2012, the bank controlled about 8.2% of all bank assets in Kenya.
History
The bank was established in 1965, initially as a cooperative society. The banking license was granted in 1968. The Kenya Government directed all cooperative societies in the country to transfer their deposits to the Cooperative Bank of Kenya and that all cooperatives buy the bank's shares. In 1977, the bank opened its first subsidiary: Cooperative Finance Limited. In 1989, the bank converted to a fully fledged commercial bank and increased its products menu. In 1998 the bank's headquarters were relocated following destruction of the original premises by the bombing targeting the nearby Embassy of the United States of America. That same year, the bank became an agent of the money-transfer service company MoneyGram. In 2002, the bank's headquarters returned to Cooperative Bank House following renovations. In 2008, the bank listed on the Nairobi Securities Exchange, where its shares trade under the symbol: COOP.
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world.
Credit unions have the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members.
Its members are usually required to share a common bond, such as locality, employer, religion or profession, and
credit unions are usually funded entirely by member deposits, and avoid outside borrowing.
They are typically (though not exclusively) the smaller form of cooperative banking institution.
In some countries they are restricted to providing only unsecured personal loans, whereas in others, they can provide business loans to farmers, and mortgages.
The Co-operative Bank plc is a retail and commercial bank in the United Kingdom, with its headquarters in Balloon Street, Manchester.
The bank markets itself as an ethical bank, and seeks to avoid investing in companies involved in certain elements of the arms trade, fossil fuel extraction, genetic engineering, animal testing and use of sweated labour as stated in its ethical policy. The ethical policy was introduced in 1992 and incorporated into the Bank's constitution in 2013. In 2002, the parent company Co-operative Group Limited brought the bank and the Co-operative Insurance Society under the control of a newly incorporated holding society, Co-operative Financial Services, which became the Co-operative Banking Group in 2011.
As Britain's seventh biggest lender, the majority of the bank's revenue is made from interest charges on loans.
In 2013-14 the bank was the subject of a rescue plan to address a capital shortfall of about £1.9 billion. The bank mostly raised equity to cover the shortfall from hedge funds, while the Co-operative Group became a minority shareholder holding a 20% stake in the bank.
Kenya (/ˈkɛnjə/; locally[ˈkɛɲa]), officially the Republic of Kenya, is a country in Africa and a founding member of the East African Community (EAC). Its capital and largest city is Nairobi. Kenya's territory lies on the equator and overlies the East African Rift covering a diverse and expansive terrain that extends roughly from Lake Victoria to Lake Turkana (formerly called Lake Rudolf) and further south-east to the Indian Ocean. It is bordered by Tanzania to the south, Uganda to the west, South Sudan to the north-west, Ethiopia to the north and Somalia to the north-east. Kenya covers 581,309km2 (224,445sqmi), and had a population of approximately 45 million people in July 2014.
Kenya has a warm and humid tropical climate on its Indian Ocean coastline. The climate is cooler in the savannah grasslands around the capital city, Nairobi, and especially closer to Mount Kenya, which has snow permanently on its peaks. Further inland, in the Nyanza region, there is a hot and dry climate which becomes humid around Lake Victoria, the largest tropical fresh-water lake in the world. This gives way to temperate and forested hilly areas in the neighboring western region. The north-eastern regions along the border with Somalia and Ethiopia are arid and semi-arid areas with near-desert landscapes. Kenya is known for its safaris, diverse climate and geography, and expansive wildlife reserves and national parks such as the East and West Tsavo National Park, the Maasai Mara, Lake Nakuru National Park, and Aberdares National Park. Kenya has several world heritage sites such as Lamu and numerous beaches, including in Diani, Bamburi and Kilifi, where international yachting competitions are held every year.
The Commonwealth realm of Kenya, officially known as "Kenya", was a predecessor to the modern-day Republic of Kenya. It existed between 12 December 1963 and 12 December 1964.
When British rule ended in 1963, the Kenya Colony was given independence as a Commonwealth realm in which form the state existed until the proclamation of the Republic of Kenya came into existence on 12 December 1964. During this time, the British monarch (Elizabeth II) remained head of state. Kenya shared the Sovereign with the other Commonwealth realms. The monarch's constitutional roles were mostly delegated to the Governor-General of Kenya:
The royal succession was governed by the English Act of Settlement of 1701.
Jomo Kenyatta held office as prime minister (and head of government). Despite being head of state of Kenya throughout this period; Queen Elizabeth II never visited Kenya in her capacity as 'Queen of Kenya', though she did visit:
Jonathan "Jonti" Picking (born 17 May 1975), otherwise known as Weebl or Mr. Weebl, is a BritishInternet personality and flash animator and is the creator of Weebl's Stuff.
His movies are known for repetitive melodies and surreal dialogue; The majority feature a catchy tune with silly lyrics, which is paired with a looping flash animation. He does most of the voices in his animations himself, and several feature himself in live action, including "Haricots Verts", "Chutney", "Boogie", "CAMRA", "Stockmarket", "We Are Mature", "Tangerine" the Weebl and Bob episodes "DJ" and "Safety", the fourth On The Moon episode, and "Jazzmas". He has also worked with other animators on YouTube, such as Edd Gould in the video "Nuts [Weebl]".
Picking is a trained sound engineer and artist, and has also worked on 3D visual effects for the movie Resident Evil. In 2003, he made several advertisements for Anchor Butter in the style of his Weebl and Bob animations, but featuring cows. These were broadcast in the UK. The television program Totally Viral on UKTV G2, consisting of video clips and cartoons from the internet, has an animated title sequence and links made by Jonti. Jonti set up his own production company called Sumo Dojo, which he has since left to set up Weebl's Stuff Limited, also known as Weebl Ltd. Picking married Sarah Darling (a radio presenter on the station Xfm) on 31 March 2007. On 23 December 2008, Picking announced his wife's pregnancy on the official Weebl's Stuff forums. On 13 July 2009, Picking's wife gave birth to a baby girl.
Like credit unions, cooperative banks or 'Customer Owned banks' are owned by their customers and follow the cooperative principle of one person, one vote. Unlike credit unions, however, cooperative banks are often regulated under both banking and cooperative legislation. They provide services such as savings and loans to non-members as well as to members, and some participate in the wholesale markets for bonds, money and even equities.
They tend to be more customer friendly in terms of their rates than Bigger banks.
published: 02 Dec 2012
Cooperative Banks | Primary credit society, UCBs vs SCBs vs DCCBs - INDIAN ECONOMY by Bookstawa
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Cooperative Banks and types ... understand in less than 3mins
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Rajasthan Cooperative Bank 2024 Notification Out | Exam Pattern, Job Profile, Qualification, Age
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Like credit unions, cooperative banks or 'Customer Owned banks' are owned by their customers and follow the cooperative principle of one person, one vote. Unlik...
Like credit unions, cooperative banks or 'Customer Owned banks' are owned by their customers and follow the cooperative principle of one person, one vote. Unlike credit unions, however, cooperative banks are often regulated under both banking and cooperative legislation. They provide services such as savings and loans to non-members as well as to members, and some participate in the wholesale markets for bonds, money and even equities.
They tend to be more customer friendly in terms of their rates than Bigger banks.
Like credit unions, cooperative banks or 'Customer Owned banks' are owned by their customers and follow the cooperative principle of one person, one vote. Unlike credit unions, however, cooperative banks are often regulated under both banking and cooperative legislation. They provide services such as savings and loans to non-members as well as to members, and some participate in the wholesale markets for bonds, money and even equities.
They tend to be more customer friendly in terms of their rates than Bigger banks.
This video covers co-operative bank, cooperative banks, state cooperative bank, primary credit society , district central cooperative bank ,
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This video covers co-operative bank, cooperative banks, state cooperative bank, primary credit society , district central cooperative bank ,
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#CO-operativeBANK #Banking #UPSC #Education #Learning #CooperativeBank #FeaturesofCoOperativeBank
In this video we are going to learn about Co-Operative Banks ...
#CO-operativeBANK #Banking #UPSC #Education #Learning #CooperativeBank #FeaturesofCoOperativeBank
In this video we are going to learn about Co-Operative Banks .
Following topics have been covered in this video:
- Introduction to Co-Operative Bank(Industrial Development Bank of India)
- Objectives of Co-Operative Bank
- Features of Co-Operative Bank
- Functions of Co-Operative Bank
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In this video we are going to learn about Co-Operative Banks .
Following topics have been covered in this video:
- Introduction to Co-Operative Bank(Industrial Development Bank of India)
- Objectives of Co-Operative Bank
- Features of Co-Operative Bank
- Functions of Co-Operative Bank
If you liked this video, do SUBSCRIBE to my channel and give the video a thumbs up.
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This video cover the topic of Cooperative Bank with easy examples in Hindi & Urdu.
Meaning of Cooperative Bank.
Explained the concept of Cooperative Bank.
Coop...
This video cover the topic of Cooperative Bank with easy examples in Hindi & Urdu.
Meaning of Cooperative Bank.
Explained the concept of Cooperative Bank.
Cooperative Bank in Hindi.
Definition of Cooperative Bank.
Cooperative Bank in Urdu.
#Cooperative #Banking #CooperativeBank
This video cover the topic of Cooperative Bank with easy examples in Hindi & Urdu.
Meaning of Cooperative Bank.
Explained the concept of Cooperative Bank.
Cooperative Bank in Hindi.
Definition of Cooperative Bank.
Cooperative Bank in Urdu.
#Cooperative #Banking #CooperativeBank
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🌟 Latest Video: Rajasthan Cooperative Banks Job Recruitment 2024 🌟
Are you aspiring for a career in the banking sector? Don't miss our informative video on the Rajasthan Cooperative Banks' massive recruitment drive.
In this video, Puneet Sir shares invaluable insights into the vacancy details and an exam-oriented strategy to help you crack this highly competitive examination.
🔥 Key Highlights:
✅ Detailed Vacancy Information
✅ Expert Exam Tips and Strategies
✅ Insights into The Rajasthan State Co-Operative Bank Ltd. (Apex Bank) and Various District Central Cooperative Banks (DCCBs) of Rajasthan
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🌟 Latest Video: Rajasthan Cooperative Banks Job Recruitment 2024 🌟
Are you aspiring for a career in the banking sector? Don't miss our informative video on the Rajasthan Cooperative Banks' massive recruitment drive.
In this video, Puneet Sir shares invaluable insights into the vacancy details and an exam-oriented strategy to help you crack this highly competitive examination.
🔥 Key Highlights:
✅ Detailed Vacancy Information
✅ Expert Exam Tips and Strategies
✅ Insights into The Rajasthan State Co-Operative Bank Ltd. (Apex Bank) and Various District Central Cooperative Banks (DCCBs) of Rajasthan
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Like credit unions, cooperative banks or 'Customer Owned banks' are owned by their customers and follow the cooperative principle of one person, one vote. Unlike credit unions, however, cooperative banks are often regulated under both banking and cooperative legislation. They provide services such as savings and loans to non-members as well as to members, and some participate in the wholesale markets for bonds, money and even equities.
They tend to be more customer friendly in terms of their rates than Bigger banks.
This video covers co-operative bank, cooperative banks, state cooperative bank, primary credit society , district central cooperative bank ,
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In this video we are going to learn about Co-Operative Banks .
Following topics have been covered in this video:
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- Objectives of Co-Operative Bank
- Features of Co-Operative Bank
- Functions of Co-Operative Bank
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This video cover the topic of Cooperative Bank with easy examples in Hindi & Urdu.
Meaning of Cooperative Bank.
Explained the concept of Cooperative Bank.
Cooperative Bank in Hindi.
Definition of Cooperative Bank.
Cooperative Bank in Urdu.
#Cooperative #Banking #CooperativeBank
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✔️ Paper: Banking and Financial Awareness
✔️ Topic Name: Cooperative Banks | Banking & Financial Awareness | Foundation Course 2022
✔️ Topics Covered In This Video (By Yadvendra Sir): Cooperative Banks topic has been explained in this video
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🌟 Latest Video: Rajasthan Cooperative Banks Job Recruitment 2024 🌟
Are you aspiring for a career in the banking sector? Don't miss our informative video on the Rajasthan Cooperative Banks' massive recruitment drive.
In this video, Puneet Sir shares invaluable insights into the vacancy details and an exam-oriented strategy to help you crack this highly competitive examination.
🔥 Key Highlights:
✅ Detailed Vacancy Information
✅ Expert Exam Tips and Strategies
✅ Insights into The Rajasthan State Co-Operative Bank Ltd. (Apex Bank) and Various District Central Cooperative Banks (DCCBs) of Rajasthan
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Cooperative Bank of Kenya is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator. The bank has the second highest customer base in Kenya with over 3.5 million accounts as of June 2013. In 2010, the bank was awarded "Best Bank of Kenya" by the London Financial Times due to their excellent growth.
Overview
The bank serves the banking needs of individuals, small businesses and large corporations, focusing on the needs of cooperative societies in Kenya. Cooperative Bank is a large financial services institution. As of March 2015, its total assets were valued at approximately US$3.345 billion (KSh309.6 billion).
At 31 December 2013, its shareholders' equity was valued at approximately US$425 million (KES:36.8 billion).As of May 2012, the bank controlled about 8.2% of all bank assets in Kenya.
History
The bank was established in 1965, initially as a cooperative society. The banking license was granted in 1968. The Kenya Government directed all cooperative societies in the country to transfer their deposits to the Cooperative Bank of Kenya and that all cooperatives buy the bank's shares. In 1977, the bank opened its first subsidiary: Cooperative Finance Limited. In 1989, the bank converted to a fully fledged commercial bank and increased its products menu. In 1998 the bank's headquarters were relocated following destruction of the original premises by the bombing targeting the nearby Embassy of the United States of America. That same year, the bank became an agent of the money-transfer service company MoneyGram. In 2002, the bank's headquarters returned to Cooperative Bank House following renovations. In 2008, the bank listed on the Nairobi Securities Exchange, where its shares trade under the symbol: COOP.