Reports on bad loans and mismanagement are false, NBK chair says

Corporate News

National Bank of Kenya Board of Directors chairman Mohamed Abdirahman Hassan addressing the press on June 23, 2015. PHOTO | BILLY MUTAI |  NATION MEDIA GROUP

By EDWIN OKOTH

National Bank of Kenya (NBK) chairman Mohamed Abdirahman has faulted the media over mismanagement reports, saying the ongoing layoffs are normal.

"We are transforming the bank and we would expect the reactions. All loans processed go through due diligence," Mr Abdirahman said Tuesday.

He was reacting to recent media reports on alleged rot and mismanagement in the bank.

"We take offence on the allegations portrayed against National Bank in the media. Staff exits are normal in any organisation and ours is still below other banks"

Chief executive Munir Ahmed said the allegations also mean that the regulator Central Bank is sleeping on the job which he says is not the case.

The chairman was speaking in a meeting attended by the board of directors; Mr Francis Atwoli- non executive director, Erastus Mwongera- non executive director, Mr Richard Langat, managing trustee, Ms Beatrice Gathirwa- alternate director to CS Henry K. Rotich, Mr Habil Waswani- company secretary, and Mr Munir Ahmed- chief executive.

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