Absa Bank Kenya has announced the exit of its CEOJeremy Awori after nearly ten years of service- Commenting on Awori's tenure, the board credited him for outstanding leadership, service and contribution
- Absa revealed that Awori has decided to pursue a career opportunity outside the
Absa Group
On
Commenting on Awori's tenure, the board credited him for outstanding leadership, service and contribution.
Absa revealed that Awori has decided to pursue a career opportunity outside the
The board's Chair
"Under his outstanding leadership,
Commenting on the same, Awori said that he is honored to have led Absa Kenya in making a difference in the Kenyan society while achieving significant commercial milestones over the past decade.
"I am confident that Absa Kenya will scale greater heights going into the future. I thank the
The board of Absa Kenya further announced that they had initiated the process of identifying a suitable successor and will announce the new CEO once the process is completed, subject to regulatory approval.
Awori's exit comes months after
The Bank reported that all its business units remained profitable, registering growth on key lines in the period.
Total income grew by 12 per cent to KSh 9.9 billion, primarily driven by higher net interest income, which went up by 15 per cent yearly due to increased lending. Non-funded income grew by 6 per cent driven by new innovations and continued digitization.
At the time, Awori said the Bank's strong performance reflected customers' resilience in a challenging environment and points to improving macroeconomic conditions compared to the same period last year, as well as the successful execution of its five-year strategy which is focused on driving Growth, Transformation, and Returns.
"The year has started with great momentum and we are encouraged by this performance which is a reflection of the tenacity, determination and resilience of our customers across our different business segments. Our business is on a growth trajectory and well positioned to continue playing its rightful role in driving economic recovery from the slowdown experienced in the last two years," Awori said.
For the period, total assets increased by 14 per cent to KSh 438 billion with growth mainly driven by customer lending. Customer deposits increased by 5 per cent to KSh 270 billion.
The Bank said its investment in new businesses is bearing fruit with bancassurance, asset management and financial markets products contributing significantly to income growth in the period under review.
"Our capital position remains strong to continue supporting a robust balance sheet growth. We have also accelerated our investment towards enabling new growth areas, improving customer experience and driving operational efficiency," Awori said.
Awori's exit comes months after
As reported in
While announcing Oigara's exit, KCB's board said it was committed to becoming the undisputed regional lender.
The group's chairperson
"He has left a solid legacy for the Group across
The company also named
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