New York based magazine recognises KCB for financing trade activities in East Africa

By Ben Kinyanjui

KCB Group has been named the ‘Best Trade Finance Bank’ in Kenya in an exclusive survey set for publication in February 2012.KCB chairman Peter Muthoka

In the survey conducted by the authoritative New York based, Global Finance magazine - GFmag.com, KCB was listed among the top performing trade finance banks in 78 countries worldwide.

According to GFmag.com, the selection conducted by Global Finance editors, industry analysts, corporate executives and technology experts, is based on transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.

“Now more than ever, the availability of trade finance at reasonable prices is crucial to the health of the global economy,” said Mr Joseph Giarraputo, the Global Finance Magazine managing director.

“We have selected the banks that are best serving the needs of corporations worldwide as they engage in cross-border trade.”

With 170 branches in the country, KCB is Kenya's largest retail bank by network and market capitalization that stands at Sh280 billion. The Bank that nurses ambitions to become a pan African bank, launched in 2010, a two year transformation agenda aimed at improving its services and operational efficiencies.

"This is great news that shows we are well on our way to achieving our goal of being the most preferred financial services institution in East Africa and the continent,” said Mr Paul Tikani, the KCB Group Chief Operating Officer.

With presence already in Uganda, Tanzania, South Sudan and Rwanda, we are working to expand our reach in the regional banking scene."

In 2010 KCB Group also completed the roll-out of a Sh1.2 billion Core-Banking platform that has enabled regional connectivity throughout all its 222 branches in East Africa.

This has since guaranteed customers a one branch banking experience and access to real time financial services through innovations such as KCB Mobile Banking and KCB Mtaani Agency Banking.