Coop Bank Kenya

completed

The proposed investment consists of a US$60 million 7-year senior loan to Cooperative Bank of Kenya (Coop Bank or the Bank) to support its long term lending business and in particular to enable the Bank to expand its SME and Agribusiness lending programs (the Project). In addition to the senior loan, a further US$5 million trade line will be made available by IFC to the Bank under IFC’s Global Trade Finance Program (GTFP). The primary objective of the Project is to support the Bank’s growth, address its balance sheet maturity mismatch, and help it meet its US$ funding needs. Coop Bank is the 3rd largest bank in Kenya and accounts for 8.2% of total assets in the banking system. The Bank was publicly listed in 2008 and trades on the Nairobi Securities Exchange (NSE) under the symbol “COOP”. Coop Bank has its roots in the cooperative movement having been established in 1965 by agricultural cooperative marketing societies. Over the last 15 years, the Bank has transformed into a strong universal bank catering to all market segments including public sector, corporate, SMEs, micro-entrepreneurs and the Cooperative sector.