Co-op Bank hired 1,104 employees in 2024 on the back of digital banking expansion, MSMEs growth
The report shows that the bank recorded 5.2 per cent staff over overall employee turnover, reflecting a balance between career mobility and staff retention
Co-op Bank hired 1,104 new employees last year to support expansion of its branch network and growth in digital banking and micro, small and medium enterprises (MSMEs).
In its annual report for the period to December 31, 2024, Co-op Bank says its recruitment strategy prioritises diverse talent pipelines, internal promotions and succession planning.
“A total of 1,104 new employees joined Co-op Bank in 2024, supporting growth in digital banking, micro, small and medium enterprises (MSMEs) expansion and branch network expansion,” the report says.
It also shows that 825 members of staff were in management level, 3,690 were in supervisory and unionised roles while 1,340 others were in other positions within the Group.
The report also shows that the bank recorded 5.2 per cent staff over overall employee turnover, reflecting a balance between career mobility and staff retention and that no retrenchment occurred during the period.
“In both 2023 and 2024, over 80 per cent of identified leadership positions had designated successors reflecting consistent investment in internal talent development. The bank continues to invest in a competitive team to serve at existing function and also tap new growth opportunities across all areas of the business,” the report adds.
During the year, the bank opened 15 new branches bringing its total footprint to 212 branches.
They include Rumuruti, Isebania, Luanda, Ugunja, Mahi Mahiu, Naromorou, Eldama Ravine, BBS Mall, Imaara Mall, Eldoret Airpot Road, Westlands Square Executive Centre, Ruiru Nord Mall, Dagoretti Market and the newly-opened on at Kibwezi.
In the quarter to March this year, the lender’s subsidiary, Kingdom Bank also opened its 23rd branch in Machakos County along Mbulu Malu Road.
In South Sudan, the bank opened its fifth branch as it continues to support business growth and financial inclusion in Africa’s youngest country.
The expansion of the bank’s network comes with new opportunities as close to 500 people have secured employment from the recent expansions and continues despite the rising preference for digital services in the banking sector.
The lender says its staff establishment now stands at 5,888 from 5,400.
“Our staff have grown from 5,400 in 2023 to 5,888, with 488 young people being among those employed,” it said.
