Mr Zahid Mustafa, director retail and business at Barclays Kenya. PHOTO | DIANA NGILA | NATION MEDIA GROUP
Barclays Bank of Kenya has appointed a director to drive its
twin retail and business banking units in response to its new market
dynamics.
The bank’s former director of Retail banking
Zahid Mustafa will now head the new unit which aims to create better
ties between the bank and its target market.
Mr Zahid
whose career in banking spans 20 years will oversee the reappraisal of
the Retail and Business Banking units, which are the bank’s growth
engines.
Among the things he is expected to deliver on
is embedding the shared distribution strategy which is premised on
using the branch network to serve SME customers, in addition to retail
customers. He will also be expected to deliver cutting edge and relevant
solutions for the two segments.
A holder of MBA from
Lahore University of Management Sciences, Pakistan and a Bachelor of
Chemical Engineering from the University of Engineering &
Technology, Lahore Mr Zahid has been at BBK for 9 years in Retail and
Business Banking after serving at Citi bank for 11 years.
Rapid diversification
The
moves to strengthen business, retail and SME banking comes in the wake
of the bank’s rapid diversification from its traditional corporate
banking amidst stiff completion in the Kenyan market.
The
bank which also poached Susan Situma from Kenya Commercial bank to head
its Enterprise Banking unit said the changes will enhance its ties with
clients.
“Barclays is confident that these changes
will play a big role in the development and execution of a strategy that
will help it form a deeper connection with its key stakeholders and
therefore propel it towards its ambition of becoming the ‘Go To’ bank,”
Barclays stated.
The bank set up the Business Banking
unit in 2014 and has in the last 2 years rolled out a Sh30 billion loan
kitty for SMEs and a Sh5 billion loan kitty for women owned SME
businesses.
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