The Co-operative Bank of Kenya announced that it employed 263 staff members after opening new branches in 2019.
As we all know, 2019 was a year when most companies and lenders were shedding off their employees for one reason or the other, but Co-op was going in the opposite direction during the same period.
In fact, Co-op has been hiring staff for the past four years from 3743 in 2016 to 4514 in 2019 which is an increase of 771 in total headcounts.
The bank which has embraced digital technology in its operations said it also needs to increase its physical presence in the banking sector which has as well increased employment opportunities at a time when layoffs are rampant among businesses.
According to Co-op Bank Chief Executive Gideon Muriuki, the lender is still opening carefully-selected physical outlets,” as we believe there is no one single channel that will displace all others, rather, it’s the investment in an optimal and balanced multichannel strategy.”
Co-op Bank has now increased its branches by four in Nairobi, Kapenguria, Maralal and Chogoria taking its total number of branches to 159.
Following the addition of staff members, the bank’s spending on salaries increased to 3.48 billion shillings. This indicated a 25 percent increase from the expenditure on salaries the previous year.
However, even with its increased number of branches the bank has been at the frontline in encouraging people and merchants to go digital before, during, and after the Covid-19 pandemic.
Co-op Bank through its solutions for individuals and enterprises will enable you to go cashless during the Covid-19 pandemic and reduce the risk of you and your loved ones including customers being exposed to contagious infections.
Among its E-Commerce solutions are MCo-op Cash App, Mpesa Pay Bill and Till Number, Online Card Payments, and use of PDQ/POS Machines.
As a business or as an individual, you should take advantage of these solutions to ensure your business runs smoothly during this time. The payment methods are also very convenient for customers. To learn more, please visit the Co-operative Bank website.