National Bank opens China department to tap growing trade

Mr Munir Ahmed, National Bank CEO. The bank has effected a management shake-up and introduced a Chinese department to tap additional revenue from traders doing business with the world’s second-largest economy. PHOTO | FILE |   NATION MEDIA GROUP

By GEORGE NGIGI, gngigi@ke.nationmedia.com

In Summary

• Bank hired Sandra Hua Yao from Orange Kenya to be director of business development in charge of digital payments and Chinese business development.
• Chinese nationals have been trooping to the country to run businesses and work on projects funded by the Chinese government, while Kenyan traders have been making trips to the Asian country to import clothing, electronics, building materials, stationery and other fast moving consumer goods.
• Chinese investors are yet to see a Chinese bank set up shop in Kenya, exposing them to language barriers when seeking banking services.

The National Bank has effected a management shake-up and introduced a Chinese department to tap additional revenue from traders doing business with the world’s second-largest economy.

The changes saw the bank’s top management expand to 15 positions from 12 last year.

Those who exited include director of human resources, Jared Raburu who had been with the bank since 2008, director of Islamic banking Molu Halkano and Emma Mwongela who was acting director of corporate and institutional banking.

George Jaba joined the mid-tier lender as chief risk officer from NIC Bank where he served as head of credit risk.

Bernadette Ngara joined as director of marketing and corporate communications having held a similar position at GT Bank.

Others affected by the changes include Musa Adan who was promoted to be director of Islamic banking and Dismas Omondi, who is acting director in charge of human resources.

The bank also hired Sandra Hua Yao from Orange Kenya to be director of business development in charge of digital payments and Chinese business development.

“Business Banking, Islamic Banking, Micro Finance and the newly launched Chinese business segments have all registered strong growth in the year and we look forward to more business take on in 2015 in addition to the traditional businesses” said National Bank’s chief executive Ahmed Munir in the bank’s annual report – which has a small portion of Chinese translation.

Chinese nationals have been trooping to the country to run businesses and work on projects funded by the Chinese government, while Kenyan traders have been making trips to the Asian country to import clothing, electronics, building materials, stationery and other fast moving consumer goods.

Other banks have also tried to lure the Chinese, with Co-operative Bank for example hiring Chinese-speaking relationship managers to help them break the language barrier.

Unlike Indian businessmen who have several Nairobi-based Indian banks to choose from, including Bank of India and Bank of Baroda, Chinese investors are yet to see a Chinese bank set up shop in Kenya, exposing them to language barriers when seeking banking services.

National Bank reported a profit drop last year of 21 per cent to Sh870 million.

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It has five new directors in its top management in changes that give Mr Munir a strong hold of the bank’s strategic direction. Mr Maingi Kaumbuthu is the only director to have been hired before Mr Munir’s entry, having joined the bank in 1999.

Mr Munir was hired as CEO of the bank in 2012 from Standard Chartered Bank.