KCB Group Chief Executive Officer Paul Russo elected Chairperson Kenya Bankers Association (KBA)
NAIROBI, Kenya, June 23 – Mr Russo succeeds NCBA Group Managing Director John Gachora who has served as Chairperson since June 2021 the leadership transition comes at a time when the banking industry is placing greater emphasis on its role in supporting growth by expanding access to credit by businesses, individuals and households.
During the Annual General Meeting (AGM) the Governing Council also re-elected Credit Bank Chief Executive Officer Betty Korir to countinue serving as the Association Vice Chairperson.
Mr. Russo a member of Governing Council Kenya Bankers Association (KBA) has held other senior roles in banking among them KCB Group Director Regional Business, KCB Group HR Director and Managing Director National Bank of Kenya among others.
“It’s an honour to serve the industry in this capacity, I thank my counterparts for their confidence and reaffirm my commitment to working with all stakeholders to strengthen our industries contributions to National development”, said Mr. Russo.
A seasoned HR practitioner, Mr. Russo brings close to 25 years of experience across executive and strategic positions, his corporate experience spans leading institutions such as Barclays (Absa), PwC, K-Rep Bank (Sidian) , EABL and Unga Holdings.
“I am keen to deepen the ongoing transformation of the industry to serve our customers better provide affordable and accessible financial services and effectively catalyze country’s economic ambitions”, added Russo
Furthermore, the new Chairperson commended his predecessor John Gachora for his leadership during one of the most challenging periods for the banking sector noting that his steady hand ensured the industry remained resilient and responsive in times of uncertainty.
As Chairperson, Mr. Gachora steered the industry through the COVID-19 recovery, advocating for loans restructuring that covered KES 1.7 trillion by end of 2021 he played a leading role in addressing foreign exchange pressures by fostering collaboration between banks and the Central Bank of Kenya leading to the adoption of the Kenya Foreign Exchange Code and the revival of the interbank forex market.
Under his leadership banks committed KES 150 billion in New loans annually to MSMEs embraced ambitious sustainability goals and roll out the Persons with Disabilities Accessibility Project which transformed service delivery and led to the broader adoption of inclusion policies across the industry.
“We congratulate Mr. Russo on his election and look forward to working together to deliver greater value for the industry and empower the banking public “, said Kenya Bankers Association (KBA) Chief Executive Officer, Raymond Molenje.
