Absa Kenya has announced the resignation of CEO and Managing Director Jeremy Awori, a leading Kenyan banking executive who has been at the helm of the bank for nearly a decade.
“The Board of Absa Bank Kenya today announces that after nearly 10 years of outstanding leadership, service, and contribution, Jeremy Awori has decided to pursue a career opportunity outside the Absa Group,” the Nairobi-based financial services group stated during trading hours on Thurs., Sept. 8.
“I am honored to have led Absa Kenya in making a difference in our society while achieving significant commercial milestones over the past decade,” Awori said as he announced his departure. “I am confident that Absa Kenya will scale greater heights going into the future.”
The company announced that his resignation will take effect on Oct. 31. It has already begun the process of identifying a suitable successor. The new CEO will be announced once the process is completed, subject to regulatory approval.
Formerly Barclays Bank Kenya Limited, Absa Bank Kenya is a subsidiary of Absa Group Limited of South Africa. Retail, corporate, treasury, and card services are among its core operations, with cross-functional relationships to support local businesses and SMEs.
Absa Bank Kenya reported triple-digit earnings growth at the end of its 2021 fiscal year, owing to a steady increase in interest and non-interest revenue.
According to figures contained in its 2021 financial report, profit increased by 161 percent from Ksh4.16 billion ($36.4 million) in 2020 to Ksh10.87 billion ($95.1 million) in 2021, supported by a seven-percent increase in interest and non-interest income.
The bank’s profit increased by 13 percent in the first half of 2022, from Ksh5.6 billion ($46.56 million) in the same period in 2021 to Ksh6.3 billion ($52.4 million).
