Huge boost as Co-op Bank pledges Sh 150 million for the President’s hunger fundraising appeal

Co-op Bank joins other Kenyans and indeed the global community of goodwill in fully supporting the fundraising appeal initiated by H.E. the President, with a critical contribution of Ksh 150 million to support families affected by the historic drought that is ravaging various parts of the country.

The lender’s managing director Gideon Muriuki said the support relief efforts aim to assist families affected by the severe drought ravaging various parts of the country.

“Co-op Bank wishes to join other Kenyans and indeed the global community of goodwill in fully supporting the fundraising appeal initiated by His Excellency the President, with a key contribution of Sh150 million,” Co-op Bank chief executive officer Gideon Muriuki said.

The co-op bank has in various instances come to the rescue of Kenyans during a crisis.

In 2020, the Co-operative Bank of Kenya donated Sh100 million to the private sector-led Covid-19 Emergency Response Fund which was set up to gather resources for fighting the spread and impact of the virus.

First lady Rachel Ruto recently challenged Kenyans to pray and donate the food they would have missed to those affected by the drought.

“Donate the KSh 100 or KSh 200 you will have saved by fasting to assist the hungry. We shall be serving God by helping the poor and the starving,” said Rachel.

The Co-operative Bank of Kenya (Co-op Bank) early this week reported a 47.4 percent growth in net profit for the nine months to September, surpassing the 2021 full-year earnings on increased non-funded income.

The lender made a profit after tax of Sh17.1 billion in the third quarter, compared to Sh11.6 billion in a similar period in 2020. The nine-month performance exceeds the Sh16.5 billion that the lender made in the whole of last year.