KCB group in rapid growth

Sunday June 15 2008

By Mbatau wa Ngai

Kampala

The Kenya Commercial Bank Group has grown its balance sheet to Shs40 billion with a good mix of liabilities and loans and has opened more than 3000 accounts since it opened its doors to the public in November, 2007.

This was revealed last week by Mr Martin Odour-Otieno, the Group's Chief Executive at a press conference to kick-off the launch of the KCB brand in Uganda.  He said the Nairobi-based group also opened a third branch in Mbarara.

Mr Odour-Otieno said the bank's expansion plans were on course and the target remains to open 10 branches in Uganda within this year.

He said: “We have identified sites in Arua, Gulu, Soroti, Hoima, Lira and Arua Park Kampala for new branches.  We have also been to Kabale, Jinja, Mbale and Fort Portal and have been impressed with the prospects there. We are planning further growth in Kampala to take advantage of the opportunities in this city."

Mr Odour-Otieno explained that the group wants to create a truly regional network so that:"Our branches are spread in such a way as to create synergies with other branches in various markets; to the north towards southern Sudan, to the south towards Rwanda and Tanzania and to the east towards Kenya. We have the potential to create a strong regional brand, one that gives our customers in the various markets the ability to enjoy banking services wherever they are in the region."
Mr Odur-Otieno gave the example that with a single green ITM card, a KCB Bank customer can access his money from any branch in the east African region where the group operates.

He said the group has began the Rwanda project which is planned to be completed this year before moving to Burundi to complete the East African circuit Mr Odour-Otieno said the bank was also on course to meet its other key target of creating employment in Uganda.

"We now have most of the required senior managers in place to take care of our retail and corporate businesses, operations, human resources and other key administrative duties. In total we have a staff complement of 88 people (70 are Ugandans)," he said.

KCB group is a full-fledged bank offering a wide range of products and services including savings accounts, current accounts and loan facilities for individuals, small and medium enterprises as well as large enterprises.

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