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Lion King 2
Dear Lion and Lionesses,
Our quarterly journal; the Lion
King is here again and it is with
great pleasure that I use this me-
dium to once more address you.
2011 was a very challenging
year for the entire financial ser-
vices industry as well as the larg-
er African and global economy.
In spite of the market upheav-
als, we spent the year reinforc-
ing our businesses in readiness
to regain our leadership position
in 2012 and beyond.
In line with my address to you
at the beginning of the year, we
have began to deepen our ca-
pabilities to play in the existing
corporate, commercial and re-
tail banking sectors. This is in ad-
dition to strengthening our op-
erative structure and platforms.
This repositioning thrust has been
further enhanced through vari-
ous other initiatives built around
customer centricity such as:
• balance sheet restructuring
to ensure improved yield
optimisation and reduction
in non-earning assets across
the group;
• credit process transformation
for improved turn around
and overall asset quality;
and
• resolution of people issues
and the reward system in-
cluding having an effective
evaluation and performance
management systems.
Dear colleagues, it is imperative
to note that the combined effect
of these have been quite posi-
tive. Our overall market outlook
is very bright and current trend
show that we will close the quar-
ter very strong.
I enjoin all of us to continue
to give our best to enable us
achieve the performance objec-
tives we have set for ourselves
for the 2012 financial year.
Thank you
Phillips Oduoza
GMD/CEO
Message from GMD/CEO