How Much Co-operative Bank On Its South Sudan Subsidiary

(Last Updated On: July 5, 2014)

Coop

Co-operative Bank started its operations in South Sudan back in September 2013. It did this through a joint venture with the government of Sudan whereby Co-op Bank spent sh1.5 billion to acquire a 51 percent stake while the government help a 49 percent stake.

In the year ended December the financial performance of the subsidiary was a pre-tax loss of sh267.3 million for just the four months of operation. Co-op Bank also got the rights to offer banking services to the government and Saccos in Sudan. This is one of the biggest advantages for the joint venture