Biography Of Gideon Muriuki (Age , Wife , Net Worth) - Gideon Muriuki, a Kenyan banking magnate, has lost nearly $1.6 million from his stake in Co-operative Bank Group, a Nairobi-based financial services group, in the last 16 weeks, as market participants reduced their stakes in the group despite reporting a stellar performance in the first quarter of 2022.
Gideon Muriuki
Co-Op Bank Group is one of East Africa’s major financial organizations. Kingdom Securities Limited, Co-optrust Investment Services Limited, Co-operative Consultancy & Insurance Agency Limited, Kingdom Bank Limited, and Co-operative Bank of South Sudan are among its subsidiaries.
Muriuki, Co-operative Bank Firm’s CEO and Managing Director, has a 2% interest in the top financial services group, totalling 102,528,400 shares.
Co-Op Bank Group shares were trading at Ksh11.5 ($0.098) as of press time on July 8, up 88 basis points from their opening price on the Nairobi Securities Exchange this morning, as the bank’s shares continue to rebound after dipping below Ksh10.7 ($0.091) in June.
Investors repriced the Nairobi-based financial services group’s shares from Ksh13.3 ($0.113) on March 18 to Ksh11.5 ($0.098) on July 8, despite a 65.5-percent increase in earnings in the first quarter of 2022, from Ksh3.46 billion ($87.05 million) to Ksh5.84 billion ($103.54 million).
Because of the double-digit reduction in Co-Op Bank Group shares, Muriuki’s two-percent stake’s market value has dropped from Ksh1.36 billion ($11.58 million) on March 18 to Ksh1.18 billion ($1.57 million) at the time of writing.
Over the last 112 days, the Kenyan multimillionaire businessman has lost Ksh184.55 million ($1.57 million).
Muriuki got a dividend of Ksh102.53 million ($882,400) from his share in Nairobi-based Co-operative Bank Group on May 30, following the company’s announcement of a 53% rise in earnings at the end of 2021.
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