Two students sponsored by ABC Bank, Walter Okombo (St. Mary’s School Yala) and Marygoretti Atieno (Moi Girls High School – Eldoret) visited the bank in April to meet and greet their sponsor as well as receive guidance and mentorship from the bank staff.
The two form three students were taken on a tour of the bank and met various employees who spent time advising them on career choices and life skills. Their visit culminated with a meeting with the Group Managing Director Shamaz Savani. S
hamaz advised the two to be all-round while at the same time giving special attention to their studies. The students expressed their gratitude to the bank sponsoring them, and for the exposure they got during the visit.
They also declared their commitment to excel in their studies as their ultimate show of gratitude to the bank. The bank has fully sponsored the two for their school fees and upkeep as part of it’s corporate social responsibility.
Developing Afrika Ltd (DAL) held its open day on Saturday, 26th April 2014 to show case their new houses in Juja South Estate. DAL used the opportunity to get interested buyers to book for the houses in phase one of the project, which are nearly complete. ABC Bank is the mortgage finance partner for the project.
Speaking during the well attended open day, DAL CEO Patricia Githu said they intend to put up 257 units in two phases. Phase one of the development comprises of 112 units: 70 two bedroom apartments, three bedroom penthouses, three and four bedroom town houses. The gated community complex sits on a 30 acre piece of land situated half way between Nairobi and Thika town. Sitting on an eighth of an acre, each unit has a spacious servant quarter and a state-of-the-art waste management system (bio-digester) that automatically recycles all household liquid waste.
Once complete, the housing complex will have a commercial centre, a school, swimming pool, club house and borehole as an alternative water source. Patricia said about 54 percent of the Juja South Estate project had been sold out, and that DAL intends to roll out other projects faster to take advantage of the ever-rising housing demand in the country. The location provides a wide panoramic view across the expansive plain stretch of land overlooking the Kilimambogo Hills on the East and Ngong Hills at a distance on the West.
This offers a spectacular view of sunrise and a breathtaking sun downer. The environment is simply serene and welcoming, away from the hustle and bustle of the city, and enjoys a soothing fresh air breeze all day, ideal for both working and relaxation. The estate is easily accessible via the Eastern bypass from Mombasa Road and JKIA, as well as the Thika Superhighway from both Nairobi and Thika Besides real estate, DAL also has interests in project and property management, leasing, joint ventures and trade finance.
Budding athletes in Iten received a boost from ABC Bank in support of their training. This is part of the bank’s community relations strategy that is expected to nurture more young talented sportsmen and women in various disciplines to become world champions.
‘We are committed to supporting young talent in athletics and other sports disciplines so that this country continues to produce world champions” said ABC Bank Group CEO Sridhar Natarajan when presented the cheque to the Paul Tergat Foundation. The athletes were picked for intense training in various training camps in Iten after they posted impressive performances in the ABCBank-sponsored Baringo Half Marathon last year.
Bank customers and other golf lovers flocked the Eldoret Club on Saturday for the Swing into Action Golf tournament.
Led by the ABC Bank Group CEO Sridhar Natarajan and Eldoret Branch Manager Kipkosgey Rogony, the bank used the opportunity to appreciate and interact with customers as well as make new contacts with prospective clients.
Speaking during the prize giving ceremony, a jovial Natarajan pledged the bank’s support and commitment to fostering lasting relationships.
He added that sports is a great way of pulling the youth away from the arresting power of the internet and other technological obsessions and make them world champions.
ABC Bank has launched a private bond to raise Ksh 1 billion to grow its lending portfolio. The bank will first issue a Ksh. 650 million with a green shoe option of Ksh. 350 million if investors demonstrate strong enthusiasm.
The bank is offering select investors an opportunity to invest at a rate of 12.6 percent annually for a period of 5.25 years. The proceeds of this issue will enable the bank invest in its core segments of SME and retail banking, expanding branch network besides fulfilling strategic business objectives .
This is a purely private bond offer. It represents the bank’s ambitions to establish itself in the market by taking advantage of the opportunities a larger capital base affords,” said ABC Bank Group Managing Director Shamaz Savani.
The bond gives the lender the confidence to continue to aggressively pursue its strategic objectives in the market, while ensuring superior value for both investors and customers.
The bank’s investment advisors ABC Capital Ltd and Standard Investment Bank will manage the bond issue.
ABC Bank remains consistent in its focus on the SME sector by enabling them reach their potential for growth and supporting them to achieve success. The growth of its balance sheet over the past few years demonstrates the strong demand from customers for financing.
ABC Bank representatives witnessed the ground breaking of a new office block at the Consolata Shrine in Westlands on Saturday 18th March, 2017.
The bank was represented by Industrial Area Branch Manager Ernest Njiru and Relationship Manager in charge of religious institutions business, Adelaide Khamasi .
When complete, the new Allamano Centre will accommodate offices, a pastoral office and a parking lot.
ABC Bank’s Relationship Manager (Industrial Area) Adelaide Khamasi (left) chats with Bishop Virgilio Pante after the ground breaking ceremony.
The bank continues to support religious institutions in their financial needs and projects.
Nairobi, March 8, 2017: ABC Bank has secured certification as a Legal Entity Identifier (LEI) Bank by the London Stock Exchange. This makes ABC Bank among the first Banks in East Africa to obtain such status.
The certification comes ahead of the global enforcement of the European Market Infrastructure Regulation starting 1st January 2018.
The LEI regulation was introduced in May 2014 at the behest of the G20 countries after the global financial crisis of 2007-2008. LEI is a unique code used across the globe to identify organizations that engage in financial markets, and is intended to bring comfort of corporate identity, particularly in financial transactions.
The publicly available data pool serves as a global directory, which greatly enhances transparency in the marketplace. Besides enabling companies and regulators to identify parties to financial transactions instantly and accurately, it also benefits companies by improving efficiency and internal risk management.
“This certification is critical to ABC Bank because we are very active in the international financial markets, hence the need for us to be a recognized participant in the larger financial ecosystem even outside of East Africa. This will avail us new international business opportunities since prospective partners will easily and speedily identify us and transact. We believe this certification places us at great advantage vis-a-vis other banks for customers as we can reach a larger pool of counterparties and offer finer pricing for customers ” said ABC Bank General Manager for Treasury and Financial Institutions, Mr. Philip Wambua.
With the globalization of the financial markets, businesses across the world are grappling with the challenge of developing and implementing a common entity identification system that could serve as a game changer in identifying financial market participants. Once certified, a firm is included in a global data system that connects to key reference information that enables clear and unique identification of legal entities participating in financial transactions in any jurisdiction.
“We believe that ultimately there should be one identity behind every business. Having an LEI will help to achieve this objective. We are on a journey to increase the rate of LEI adoption so that in the future, the Global LEI Index will capture an increasing number of entities engaging in financial transactions globally, providing a 360-degree view”, states the Global Legal Entity Identifier Foundation (GLEIF) website.
ABC Bank joined the world in celebrating Valentines Day by helping customers in the Diaspora to beat the geographical distance to touch their loved ones.
This is in line with the bank’s mission of empowering customers to achieve the extraordinary. It was also a demonstration of deep care for family values and relationships, which it shares with its customers.
Cynthia, a class six pupil in St. Bridgit Catholic Academy in Nairobi, was overwhelmed with emotion when the bank staff delivered gifts at her school on behalf of her mother Eunice who works in the Middle East.
ABC Bank’s Assistant Manager for Customer Service Rosemary Kiboro (centre) presents Cynthia with her gift. On the left is Cynthia’s teacher Stella Kimei.
“You mean she can still send me gifts even when there!”, Cynthia exclaimed, evidently surprised Cynthia exclaimed.
Ann, a spouse to one of our Diaspora customers, works at a public institution in the city. Her husband enlisted the help of ABC Bank. Fully aware of the distance and logistical conundrum, she was not expecting any gift from her husband. This was until our customer service team showed up in her office with a load of red-coloured gifts.
Rosemary Kiboro of Customer Service Rosemary Kiboro (left) presents a Valentine’s Day gift to Ann on behalf of her husband.
The Treasury Team led by General Manager- Treasury & Financial Institutions Philip Wambua, has conducted Forex training for Westlands and Koinange Branch teams to equip them to drive growth in the FX business as envisioned in the bank’s 2017 projections.
Philip Wambua and Koinange Branch Manager Arthur Washe (3rd and 2nd right, standing respectively) with the Koinange branch team.
Treasury and T-Mall Branch Teams led by General Manager- Treasury & Financial Institutions Philip Wambua and Joseph Maigwa (Standing, centre) after the training session.
The foreign exchange, FX or forex market is the market in which currencies are traded. The forex market is the backbone of international trade and global investing. It is critical to support imports and exports, which are necessary to gain access to resources and to create additional demand for goods and services.