National Bank of Kenya
Bank on Better The National Bank of Kenya is focusing on heightened security and convenience-driven innovation in 2015 as it stays true to both its short and long-term goals Writer: Matthew StaffProject Manager: Donovan Smith The National Bank of Kenya’s ongoing strive for industry innovation and customer satisfaction continues to fuse short and long term goals as 2015 promises further physical and virtual expansion.In 2014, the company was in the midst of a significant growth plan which incorporated not only the addition of 12 new physical branches and 20 new ATMs, but also a concerted move into online and mobile banking.This overall distribution network expansion remains one of the institution’s core ambitions this year too, improving the level of virtual and physical access points for its customers, while also introducing new and futuristic solutions to keep ahead of the industry curve.The company’s Chief Executive Officer (CEO), Munir Sheikh Ahmed explains: “We will look to grow the amount of products and services significantly this year, putting in place 15 additional branches to the 12 opened last year, but also in growing new business segments in the form of microfinance and our Chinese business segment.“The other unique strategy this year is to bring down the costs of operations by automating and digitising lots of back office works that are currently semi automated or entirely manual.”Arguably one of the biggest introductions currently being initiated by the National Bank of Kenya though is the influx of agency banking outlets across the country, fusing both its growth strategy and its dedication to localisation and…
National Bank of Kenya
Banking made easy After a recent rebranding, National Bank of Kenya are expanding their reach with the help of skilled staff and by embracing new technologies Writer Emily Jarvis Project Manager Sheridan Halls In recent years, the National Bank of Kenya (NBK) have undergone one of the biggest transformations of an African financial institution. From its inception in June of 1968, NBK used to be entirely government-owned bank, with the sole objective of creating credit access for Kenyans. At this time – immediately after independence – most of the banks were multinationals and so the government wanted to ensure that they had their own hand in the finance business. After this period in time, there was a realisation that the bank would need to extend its reach in order to continue doing business to meet the changing needs of the public. Therefore, NBK made a decision to list its shares on the Nairobi stock exchange. This is when NSSF took a 48.5 percent stake in the bank, with the government through National Treasury retaining 22.5 percent and 29 percent going to the public. "This shift in ownership meant that NBK was no longer considered a government bank. Of course, we owe our founding days to the government, but right now, we are moving forward with new found vigour," explains Chris Kisire, Chief Financial Officer of National Bank of Kenya. Rebranding In May 2013, NBK rebranded and transformed in an effort to stand out from the crowd and Kisire is pleased with the outcome: "The reason for…
