Kenya: Press Releases: KCB Focus on Regional Integration Benefits

Monday, 08 February 2010

Nairobi, 4 February 2010: The East African Common Market Protocol will facilitate the free movement of labour and capital flow to the benefit of investors in the region. KCB Group Chairman Peter Muthoka said the bank has taken a leading role in the creation of a vibrant and modern financial system that supports the socio-economic development of the people and growth of the business community in the region. “The availability of KCB shares at the Dar-es-Salaam Stock Exchange, Uganda Securities Exchange and Rwanda Over-the-Counter Market is a great opportunity for investing citizens of this region,” said Muthoka. The establishment of KCB Tanzania 13 years ago was a major step towards establishing a financial platform that would support the integration of the East African Community, he said; adding that KCB Group was the first bank in the region to cross-list shares in the various stock markets in East Africa. “We have a vision to be a big player in the financial sector across Africa in years to come but must start with positioning ourselves as the preferred financial solutions provider within East Africa,” he said. KCB Tanzania began with one branch in Dar-es-Salaam and has expanded to some key business centres of in the country which is a demonstration of the bank’s commitment to reaching out to more East Africans in both rural and urban areas, he said. Muthoka was speaking during a customer cocktail party held in Arusha, Tanzania, which was also attended by KCB Group Chief Executive Dr. Martin Oduor-Otieno and members of the East African Legislative Assembly. The bank has grown to become a regional giant with operations in Kenya, Tanzania, Uganda, Rwanda and Southern Sudan. At the moment, its 400 quickserve Automated Teller Machines (ATMs) are able to give cash in local currency in Kenya, Uganda, Tanzania and Southern Sudan regardless of where an account is held within its network. KCB has a wide-range of products and services which gives it the capacity to support the business requirements with ease and convenience. Currently, it is the largest bank in the region in terms of branch network and asset base valued at over KES191bn. Its network of over 200 outlets in the region is strategically located to provide synergies for our operations across the markets. Comments (0) Subscribe to this comment's feed Write comment Show/Hide comment form Name Email Title Comment smaller | bigger Subscribe via email (Registered users only) I have read and agree to the Terms of Usage. Add Comment