NBK says assets growing at 33 per cent, clears air on Chief Finance Officer

National Bank of Kenya CEO Munir Ahmed

NAIROBI, KENYA: National Bank of Kenya said on Thursday its assets are growing at a rate of 33 per cent, and profits at 45 per cent- which is faster than the target set by the strategy responsible for its ongoing transformation to get the bank into the Tier1 bank club by 2017.

The transformation strategy being implemented requires National Bank to deliver a 25 per cent compounded annual growth rate (CAGR) on balance sheet and 30 per cent on profits year on year respectively to achieve its goal of being a top 5 Tier 1 bank. The strategy was drafted by McKinsey and Company.