ABSA BANK KENYA PLC Contents
- Business Overview
- Financial Performance
- Strategic Outlook & Guidance
Your story matters
Business
Abdi Mohamed
Chief Executive Officer
FY 2023 Investor Briefing
Our strategy: We have reviewed and re-anchored our strategy, and achieved significant year-1 milestones
-Re-organized the business into core segments establishing a growth and diversification road map
-Expanded our digital and physical distribution
- 40% increase in digital loans disbursements and 68% increase in Timiza insurance
-Enhanced transactional and working capital capabilities
-Access to Pan-Africa markets (Ghana, Mauritius and South Africa) -1,000 farmers in 10 counties trained in post-harvest management
-Established a regional investment bank -Established a custody business
-Modernized our transactional banking technology
-Migration to cloud for resilient operations - 99% system uptime - High level of back-end processes digitized and automated -25% increase in digitally active customers
-98% of transactions on alternate channels
-Most reputable financial Brand (by GlobeScan research)
-94% Brand awareness with 2X growth in Brand consideration -Launched new brand promise
-75.3 colleague experience index
-16% increase in future skills training -Top employer 3-years in a row
FY 2023 Investor Briefing
Operating environment: While managing through a persistently complex operating environment with addressable risks and opportunities
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024F
GDP | Sub saharan Africa | |
Resilience in
private sector
2019/2020 2020/2021 2021/2022 2022/2023
- Sustained momentum with growth in revenue by 19% achieving KES 50+ billion revenue for the first time.
- Growth in franchise attractiveness evidenced by growth in deposits by 19% to KES 363 billion and crossing half-trillion in total assets
- Non performing loans retained at best in class at 9.6%
- Efficiencies and productivity gain embedded in the organization with cost-to-income ratio improving to 39.7%
- Growth in active customers numbers by 16% as we become the primary finance partner
Sources: Central Bank of Kenya, Government of Kenya Treasury, IMF, World Bank
FY 2023 Investor Briefing
Our brand promise: We have entered a new horizon with our brand, positioning towards becoming a trusted customer champion
We see and understand your side
We get things done with ease and delight
6
FY 2023 Investor Briefing
For our customers: We have sustained innovation to expand our market leading propositions
today
- mobile payment solution for
SMEs
enhancing our card
proposition remittances
yielding | and a high |
housing with single-digit | |
interest rates | |
business | |
7. Enhanced | business |
diversified revenue between retail and wholesale bank
growth in subsidiaries diversifying our revenue
of transactions on alternate channels
of back-office processes digitized and automated
efficiency ratio (cost-to-income
ratio)
in customer experience scores
-Best in | - KBA | -Best Bank in | Financial Reporting Awards |
-Best Bank in | -Winner - Think Business | -Most | - 2nd Runner up - Think Business |
-Best | of the Year in Kenya - MEA Innovation | -Best Bank in | - 2nd runners up - Think Business |
-Best | - Service excellence awards | -Best Bank in | 2nd runners up - Think Business |
FY 2023 Investor Briefing
For our customers: We are enabling customer aspirations while supporting them to navigate a tough operating environment
1. Continued supporting our customers with financial and non-financial skills to support their growth ambitions, we have committed KES 100 billion towards MSMEs in the next three years
Gross lending to our | Customers empowered | |
customers (KES) | with non-financial skills | |
2. Supporting our customers' journey through a tough operating environment
Facilities restructured | Timiza-waived loans | |
(KES) | (KES) | |
8
FY 2023 Investor Briefing
For our customers: We are expanding our local and global reach
Distribution reach | Our diaspora proposition | Large Africa footprint with global offices |
Expanding | and | Acquiring Kenyans diaspora customers from | Three | to |
outlets | with our new propositions where customers can access | serve our global clients: London, | ||
insurance, investments and advisory services | New York and Beijing |
-Best Bank in | 1st Runners up - Think Business | -Best Bank for | in Africa - MEA Innovation |
-Best Bank for | in Africa - MEA Innovation | -Best Bank in | - 2nd Runners up - Think Business |
-Best | in Africa - MEA Innovation |
FY 2023 Investor Briefing
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For our colleagues: We are building a home of talent and diversity
Hires to support growth | Colleague experience index | Job satisfaction index | ||||||||||||||||||||
2021 | 2022 | 2023 | 2021 | 2022 | 2023 | 2021 | 2022 | 2023 |
colleagues promoted and seconded for career growth as we help them achieve their aspirations
million invested in learning and development for colleagues towards future skills such as data science
organization wide gender parity and in management roles
-Certified: | 3-years in a row |
-Winner: | and |
-1st runners up: | and |
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Disclaimer
ABSA Bank Kenya plc published this content on 18 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2024 06:32:04 UTC.
