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Co-op opens banking unit for wealthy clients

A Co-operative banking hall. FILE PHOTO | NMG
A Co-operative banking hall. FILE PHOTO | NMG 

The Co-operative Bank of Kenya #ticker:COOP has launched a premium banking service targeting wealthy clients in Kenya, in a bid to grow its advisory, finance and investments unit.

Customers will be required to maintain a minimum balance of Sh100,000 or pay a monthly subscription of Sh2,500 to join the Captains Club, which is under the bank’s Executive Banking Plus service.

Captains Club members will have access to the bank’s wealth management services and discounted investment deals.

The members will also get opportunities go on organised international business trips, scout for opportunities outside the country, learn about emerging trends in trade and network.

The bank’s first international trip will be to Guangzhou Hong Kong for the Canton Fair in October. To get members signing up, the bank is offering an unsecured loan of up to Sh2 million for the first 20 members.

“The growth of middle and up market customers’ demand for exclusive banking services in Kenya has made us re-look at our customer experience offering to provide a unique proposition for this increasing market. We tailored our offering around the customer lifestyle under three key pillars relationship management, customer experience and convenience,” said Co-op Bank head of retail banking Nancy Gathuku.

“Members of the club have access to a wide network of individuals and businesses in and around the region and have the chance to meet like-minded people at the club’s engagement forums.

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