ABC Bank’s Koinange Street branch has moved to a new location on College House at the junction of Koinange Street and University Way in Nairobi.
The new redesigned branch opened its doors to the public on Monday 19th June 2017. The relocation is part of the bank’s plans to enhance convenience of access for customers.
The bank has redesigned its branches to respond to the changing needs of the discerning banking public, and to provide a unique banking experience to its customers.
ABC Bank sponsored the food festival and fun day organized by the Medical Fund of Siri Guru Singh Sabha in Mombasa. It was also the 23rd anniversary celebration.
The Medical Fund is a Sikh charitable health fund founded on the principles of hard work, sincerity, honesty and sharing with others. It fund mobilises resources from its members who contribute to a common pool from which all benefit equitably.
The bank’s sponsorship was in appreciation of the fruitful relationship it has had with the Sikh community in Mombasa and across Kenya.
18th May, 2017: ABC Bank has donated Sh100,000 to the Mater Misericordiae Hospital in support of this year’s Mater Heart Run to be held on Saturday 20th May at the Nyayo National Stadium.
Presenting the cheque, ABC Bank’s Head of Retail Banking Amanda Corline said the bank is committed to investing in health care support initiatives as a way of giving back to communities where it has operations.
Started in 1996, the Mater Heart Run is an annual event that seeks to raise funds for the treatment of children with heart conditions, either through surgery or interventional cardiac catheterization.
Since inception, the Mater Cardiac Program has benefited over 3,000 children. The program has grown from handling 20 open heart operations to 200 cases a year. The majority are Kenyan children; however children from Uganda, Tanzania, Ethiopia, Malawi and Zambia have also been treated.
May 11th, 2017: ABC Bank Diaspora team is in the US for a week-long customer engagement drive meant to strengthen relations with its Diaspora customers. During the trip, the team will tour Wichita- Kansas, Dalls-Texas, and other towns in Massachusetts- Springfiled, Chelmsford and Sutton.
The tour is part of ABC Bank’s plan for Diaspora engagement and partnership-building to leverage the business opportunities both in the US and in Kenya that the Diaspora Community can benefit from.
Head of Diaspora Banking Joseph Waithaka- who has lived and worked in Oklahoma for the past 16 years- will be accompanied by a team from Dal Afrika, a real estate delevopment firm affiliated with ABC Bank.
On their tour of Massachusetts, the team will be accompanied by New England Kenyan Diaspora Sacco.
ABC Bank prides itself in providing distinguished financial service to Kenyans in the Diaspora, focusing not on remittances only, but on investments as well. Some of the investment products the bank offers to Diaspora clients (groups and individuals) include construction and project financing, mortgages/home loans, land purchase financing and asset financing among many others. The bank also offers professional investment advice to customers to enable them make informed investment decisions and enlighten them on the best investment opportunities available in Kenya.
Additionally, ABC Bank has a wide range of international money transfer services that customers can use to conveniently and securely send funds to their loved ones back in Kenya. Our award-winning Internet Banking service and user-friendly iOS and Android App which offer customers a borderless, seamless and convenient banking experience; secure local and international account-to-account transfers, mobile transfers and much more. It literally makes you your own bank teller, using PC, mobile or tablet.
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5th May, 2017: ABC Bank has been recognised as the third Bank with the Lowest Charges for SMEs in Kenya.
The bank scooped the award during the 2017 Banking Awards gala organised by Think Business. This award affirms the bank’s commitment in supporting the SME sector as a key driver of the economy, by offering tailor-made financial solutions at favourable rates.
ABC Bank has over the years solidified its market position as the preferred SME bank in a country with more than 17 million SMEs, with 98 percent of them contributing 25 percent of the country’s GDP and employing up to 50 percent of the workforce, according to the Kenya National Bureau of Statistics.
ABC Bank has a fully fledged and dedicated SME Banking Unit run by a team of professional and experienced bankers with practical understanding of the SME segment. Every client is assigned a dedicated Relationship Manager and Relationship Officer to walk with them through their daily pursuit of business growth and success. Our team regularly meets all clients at their business premises to listen to their needs and offer free expert business development and management advisory.
Some of the products offered include asset finance, term loans, overdraft facilities, cheque discounting, supply chain financing, construction and project finance, mortgage facilities and trade finance.
On the night of Wednesday 19th April, a group of children from Upendo Kids International jetted back from a two-week appreciation and exposure tour of the US where they met different groups of Kenyans living and working in Oklahoma State.
Upendo Kids International is a center for destitute children, based in Juja.
ABC Bank Head of Diaspora Banking Joseph Waithaka (left) explains to children from Upendo Kids Center Jussy Mweru, Lucy Mbeche and Maurice Wambugu on how foreign exchange transactions work.
ABC Bank is a close partner of the centre, and some of its representatives were at hand to receive them at the airport.
ABC Bank was one of the sponsors of the annual Islamic Inter-school Oratory Competition that took place on Sunday 9th April at Light Academy in Karen.
The event was organized by Ar Risalah Academy and involved school children of different ages presenting poetry and oral citations on various teachings of Islam.
ABC Bank continues to to support community initiatives to assist them advance their causes and nurture talent among the youth to become active participants and contributors to social and economic development in society.
ABC Bank staff on 30th March saw off a group of children from Upendo Kids International as they traveled to the US on a two-week fundraising tour will take them to Oklahoma State where they will meet various groups of Kenyans living there.
The tour will take the children to Oklahoma State for two weeks, during which they will meet various groups of Kenyans living there.
The bank is a close partner of the children’s center located in Juja, KIambu county. It was founded in 2007 by a Kenyan couple living in the US- Eunice and Robert Menja- to provide child-centered programs that prepare children under their care for a lifetime of learning, while their families are empowered to become self independent.
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.
The bank continues to support religious institutions in their financial needs and projects.
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.