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Absa CEO Jeremy Awori resigns

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By Phyllis MUCHOKI

Absa Bank Kenya PLC CEO and MD Jeremy Awori has announced his resignation effective October 31, 2022, to pursue other interests outside Group.

“Jeremy has been instrumental in driving significant growth and transformation of our business over the past decade and under his outstanding leadership, Absa Bank Kenya PLC has evolved into a modern-day business that all our stakeholders can be proud of,” said Charles Muchene, the bank’s Chairman.

Awori joined the bank in June 2013 as the managing director and chief executive officer of Absa Bank Kenya – formerly Barclays Bank of Kenya.

The firm announced a triple digit profit growth for the year ended December 2021 which rose by 161 percent from Ksh4.16 billion ($36.4 million) in 2020 to Ksh10.87 billion ($95.1 million), supported by a seven-percent increase in interest and non-interest income, as it was able to leverage the strong recovery in the economy and its operating environment to create value for investors.

The bank’s assets increased by 13 percent from Ksh379.44 billion ($3.32 billion) in 2020 to Ksh428.7 billion ($3.75 billion), supported by a six-percent increase in customer deposits, while shareholder funds rose from Ksh46.5 billion ($406.8 million) to Ksh56.45 billion ($493.8 million).

 

 

 

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