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Barclays in Kenya
Operating Environment:
Barclays Bank is one of the leading banks in Kenya. The Republic of Kenya, is situated in East Africa and has a
population of 30 million people with a GDP growth rate of 2.3% per annum. The currency is the shilling and the
banking sector is served by 54 banks.
The country's main foreign exchange earner and engine of growth is agriculture followed closely by services
and manufacturing with total trade volume standing at Ksh465 billion or UKŁ46.5 billion.
Kenya is classified as being among one of the top 10 economies in Africa.
Barclays in Kenya:
Barclays Kenya opened its doors in 1916 and has operated continuously for 88 years.
Barclays Kenya is currently the largest business unit in the Barclays Africa family n terms of contribution
to profit and size of operations. In Kenya, it boasts of a balance sheet worth US$ 1 billion which is equivalent
to 10% of the country's GDP.
The bank is the market leader in the retail segment and is aggressively growing its corporate business with
numerous world class financial services products. The bank pioneered the concept of unsecured retail lending in Kenya
where it currently holds a market share of 30%.
The bank has 69 outlets across the country , with the Queensway house branch in Nairobi being the largest.
All the outlets are computer linked making it possible for customers to access their accounts from any branch as if
it were their own home branch for all their cash and cheque transactions. In addition it has 82 ATMs, the largest
number by any bank in Kenya.
Barclays Kenya was listed on the Nairobi Stock Exchange in 1986 and currently has 34,000
shareholders. Its shares are some of the most sort after and are popular with both institutional and retail customers.
Currently Barclays Kenya has a staff compliment of 1890 with Adan Mohamed, a Harvard Business
School graduate as its Managing Director.
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