Co-operative Bank of Kenya lent its stock brokerage services arm Sh499 million in the financial year ended December 2023 for liquidity and capital boost, adding to the support that the lender is giving the subsidiary it acquired in 2009.
The lender’s top shareholder —Co-op Holdings Co-operative Society Limited— has disclosed that the loan to Kingdom Securities Limited added to the Sh45 million that had been advanced to the brokerage firm in the previous financial year. This took the outstanding loan to Sh544 million as at the end of last year.
