Joshua Oigara Heads for Multi-Million Contract with Stanbic Bank Kenya – Tuko.co.ke
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Former KCB Group Chief Executive Officer is in talks with the Standard Bank, Kenyan wing for a multi-million contract.
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Stanbic Bank Kenya, a subsidiary of Standard Bank Group, is seeking to replace CEO Charles Mudiwa.
According to Bloomberg, Oigara will likely take over from Mudiwa, whose five-year term is yet to expire in December 2022.
The bank's stock performs better on the Nairobi Securities Exchange (NSE) index, rising 10.6% year-to-date.
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The appointment should be endorsed by the Central Bank of Kenya.
In May 2022, Oigara exited KCB Group after 10 years of service since January 1, 2013.
He steered that bank's profit from KSh 14.3 billion when he took over the helm, leaving it at KSh 34.2 billion.
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The lender recorded net profit growth to KSh 19.6 billion in the six months from January to June 2022.
This was a 28% increase from KSh 15.3 billion reported in the same period in the financial year 2021.
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Source: TUKO.co.ke
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