Category Archives: news

KU

ABC Bank partners with Kenyatta University to support young innovators- 16th September 2014

ABC Bank joined hands with Kenyatta University by donating Ksh. 250,000 to support inventive students to realize their entrepreneurial potential. The university, through its Chandaria Business Innovation Incubation Centre, nurtures students with innovative ideas to transform them to viable enterprises.

Speaking when he presented the cheque to Kenyatta University Vice Chancellor, Professor Olive Mugenda, ABC Bank’s General Manager, Group Business Development, Peter Kinyanjui underscored the importance of partnerships between corporates and institutions of higher learning, saying this would spur the improvement of educational standards in the country.

On her part, Professor Mugenda hailed ABC Bank for being the first bank to support the incubation program.

The donation is part of ABC Bank’s CSR strategy to help the youth to discover and develop their talent. The Innovation Incubation Centre recently organized an investors’ confidence to give students under the program an opportunity to show case their ideas and to link them with potential investors.

Postbank partnership

ABC Bank and Postbank to provide cheque clearing solution – 24th June 2014.

Over two million Postbank customers can now access cheque books and process cheque payments through ABC Bank following the signing of a deal between the two banks.

The new solution will be available through the Postbank Cheque Account, which will enable Postbank customers obtain cheque books and process their cheques through ABC Bank’s clearing house. This will not only provide these customers with an important payment instrument that will help streamline their business transactions but will also help Postbank introduce the culture of savings to other market segments.

“The launch of this solution means much more to us than just a new product; it means a new solution, more opportunities and more possibilities for us and for Postbank. Postbank customers will now have the added benefit of getting cheques books, an important tool in business transactions”, said Postbank MD Dr Nyambura Koigi.

Postbank has not been issuing cheque books because it was established as a savings bank. However, through the partnership with ABC Bank it can now offer cheque clearing solution as an additional service to its customers.

ABC Bank has also launched an agency banking channel with Postbank as its agent in a bid to deepen its reach and enhance ease of access to services to its customers countrywide. The partnership will allow ABC Bank customers across the country to withdraw and deposit cash to their ABC Bank accounts through Postbank 99 outlets countrywide.

“This partnership is crucial for ABC Bank as it is key in the strategic direction we have been pursuing for the last couple of years. It reinforces our determination to increase and improve our channels to provide more touch points for our customers to access our services”, said Mr. Savani, adding that the partnership is part of the bank’s growth and expansion plans.

ABC Bank will utilize 99 of Postbank’s outlets across the country to offer its customers normal banking services such as cash deposits and withdrawals, and balance enquiry. In addition, the deal will enable ABC Bank reach new customers and increase product penetration and uptake.

About ABC Bank ABC Bank is a locally incorporated bank which has carved a special niche in providing focused services and solutions for mid to large size corporate firms, facilitating its business customers through innovative business solutions and emphasizing its main strengths in asset finance, trade finance and international/local remittance solutions. In addition to these markets, the bank has introduced a variety of personal banking solutions that have created an all rounded platform for individuals to transact with the bank.

Kerussu

ABC Bank supports rural saccos -26th May 2014

ABC Bank has sponsored the Annual Conference for the Kenya Rural Savings & Credit Co-operative Societies Union Ltd (KERUSSU).

Kerussu is the umbrella cooperative organisation for rural Saccos. It brings together 53 rural Saccos with a membership of over 1.5 million where the members’ key source of income is tea, coffee and horticulture.

The bank continues to support and empower SACCOs for them to deliver more services to customers. We see SACCOs as partners and not as competitors.

Golden Hands

ABC Bank eyes strategic partnerships to expand regionally- 26th May 2014

26th, May 2014: ABC Bank Group MD Shamaz Savani featured in a special pull out-in the Business Daily- profiling chief executives who have turned around the performance of their organizations and market segments.

Click here to read the full article…

African Banking Corporation (ABC) Group is eyeing more strategic partnerships to cement its leadership position in supporting SMEs in the region. The Group is also banking on such partnerships to deliver more new products, quicker and at lower prices. This has made collaborative business arrangements a winning formula for ABC Bank whose success story is formed in part by several such agreements.

”For instance, in 2012 we partnered with the European Investment Bank to enable us to lend to our customers for longer tenures and at better rates,” Mr. Savani discloses.

Click here to read the full article…

Banking Awards 2014

ABC Bank is 2nd best bank in Internet Banking- 30th April 2014

ABC Bank has added another feather to its cap by emerging 2nd in the Best Bank in Internet Banking in this year’s Think Business Banking Awards.

“This award is especially meaningful for the Bank, as it is a validation of the strategic direction we chose two years ago. It reinforces our resolve to increase and improve our channels to provide more touch points for our customers to access our services.” says ABC Bank Group Managing Director Shamaz Savani.

Savani adds: we understand that online banking is no longer the future of banking; it is the way to bank. This win demonstrates our commitment to excellence and innovation to align ourselves with emerging trends in service delivery in line with our culture of professionalism and customer-centricity,”

ABC Bank this year upgraded its Internet Banking platform to 2nd Level Authentication to assure customers security of their accounts and online transactions. 2nd Level Authentication is currently the most secure online banking system available in the market, is user friendly, and offers increased functionality to customers, including allowing them to carry out transactions in real time.

The 2nd Level Authentication is an enhanced security feature for internet banking to protect clients from any possible fraudulent activities on the web. A customer will now be required to key in a Transaction Authentication Number (TAN) before carrying out any Payment/Transfer instructions online.

To sustain business competitiveness, it is imperative to shift from the traditional approach of bricks-and-mortar into a clicks-and-mortar, added Savani, noting that adoption of technology has now become an essential measure of efficiency and success of any business.

Through its free-of-charge internet banking, ABC Bank customers can now access their accounts and perform online transactions without visiting a banking hall, making it very easy and convenient for customers to manage their bank accounts.

ABC Bank-sponsored students visit- 28th April 2014

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.

DAL showcases posh homes in Juja- 26th April 2014

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.

ABC-Iten

ABC Bank gives budding athletes Kes 0.5 million-6th April 2014

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.

ABC Bank Golf Day wows Eldoret customers- 5th April 2014

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 launches Sh 1 Billion private bond issue – 3rd April 2014

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.