Barclays Bank Committed to Diversify and Grow the Banking Business in Kenya

By Soko Directory Team / April 29, 2017




By Amina Faki

“In today’s world, there are fewer boundaries than ever before, it’s really what you make it. Don’t limit your career ambitions”. These were the word of the Barclays Bank Chief Executive Officer Jeremy Awori during the Mind Speak event that was held on Saturday at Intercontinental Hotel in Nairobi.

Having been brought up in a humble background, Jeremy Awori’s career took various pathways before he Joined Barclays Bank as the Chief Executive Officer. The ambitious man has managed to add to the bank in its growth to half the size of its assets and he has no plans for letting it go for according to him Barclays Bank is committed to growing its business even further within and without.

Barclays Bank Africa Group has made a tremendous growth over the years. In 2016, it’s Returns on equity amounted to 1.1 trillion which is for times Kenya’s Gross Domestic Product (GDP).

Mr. Jeremy said that Africa is a corridor of investments (South Africa, Kenya, and Egypt being the main corridors). He added that Kenya has a great potential and has had a series of intervention which makes it second to South Africa in terms of Foreign Direct Investments (FDI) with 85 investments. Nairobi has however surpassed Johannesburg in the FDI.

A major challenge that the banking sector faces in Africa is that of regulations; the number of fines levied on the banks can wipe out the entire profit and this has seen most global banks pulling out of the peripheral markets.

The performance in the Banking business today is widely limited by the interest cap rates, economic cycle (currently the rising inflation and the upcoming election), and digitalization and also the business is return based.

According to Mr. Jeremy, the Barclays Bank of Kenya intends to enhance its growth through a number of strategies including process automation, service, and customer centricity, diversification and growing the channel growth with the community.

The Corporate has two online programs that accord to the bank’s services, namely; ready to work which intends to train over 400,000 people this year and the sponsorship programs which will spend over one hundred million shillings to sponsor tertiary education.

Mr. Jeremy said that the bank has a variety of inventions (virtual Bank and Robotics) that they will launch soon to steer efficiency in the customer service and the general banking services.

For an individual to maneuver the business world he/she needs to be tenacious, alert, conscious and courageous. This is what differentiates a businessman and an armature.



About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

View other posts by Soko Directory Team


More Articles From This Author








Other Related Articles










SOKO DIRECTORY & FINANCIAL GUIDE

ARCHIVES

2019
  • January 2019 (256)
  • February 2019 (139)
  • 2018
  • January 2018 (291)
  • February 2018 (220)
  • March 2018 (279)
  • April 2018 (226)
  • May 2018 (240)
  • June 2018 (178)
  • July 2018 (257)
  • August 2018 (250)
  • September 2018 (256)
  • October 2018 (287)
  • November 2018 (286)
  • December 2018 (187)
  • 2017
  • January 2017 (183)
  • February 2017 (195)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (206)
  • July 2017 (190)
  • August 2017 (196)
  • September 2017 (186)
  • October 2017 (235)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (167)
  • February 2016 (165)
  • March 2016 (190)
  • April 2016 (143)
  • May 2016 (246)
  • June 2016 (183)
  • July 2016 (271)
  • August 2016 (250)
  • September 2016 (234)
  • October 2016 (191)
  • November 2016 (243)
  • December 2016 (153)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (166)
  • April 2015 (109)
  • May 2015 (117)
  • June 2015 (121)
  • July 2015 (150)
  • August 2015 (157)
  • September 2015 (189)
  • October 2015 (171)
  • November 2015 (174)
  • December 2015 (208)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950