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KCB Uganda changes top bosses
Publish Date: May 29, 2010
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By Emojong Osere

KENYA Commercial Bank (KCB) - Uganda has announced top management changes in a swap it said were preparations to roll out its five-year African expansion plan to boost profitability.

James Agin, the bank’s new regional director, said the current business environment would push the bank to make profits.

“The declining interest rates are a policy of the KCB group to ensure effective production and to consolidate our business and utilise the infrastructure in place so shareholders get value for their capital,” Agin said.

He was speaking at a press briefing where the bank’s management changes were announced in Kampala recently.

The bank also announced the appointment of Samwiri Njuki as KCB Uganda’s new board chairman, replacing Peter Muthoka, who remains as the director of KCB Uganda and the group chairman.

KCB Uganda will remain under the stewardship of Agin until the board identifies his replacement with approval from Bank of Uganda. The bank has an asset base of $2.5b (about sh5.2 trillion).

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