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Corporate

NBK suspends CFO over alleged links to Mumias scandal

National Bank CFO Chris Kisire (L) with bank
National Bank CFO Chris Kisire (L) with bank chair Mohamed Hassan. The lender announced his suspension to allow him to clear his name. PHOTO | FILE |   NATION MEDIA GROUP

National Bank of Kenya (NBK) has suspended its chief finance officer, Mr Chris Kisire to let him clear his name of corruption allegations while he served in the same capacity at Mumias Sugar.

Through its Public Relations agency Wheels Media, the bank said it had consulted with the Central Bank of Kenya (CBK), the government, its lawyers and Mr Kisire before sending him on compulsory suspension to allow him time clear to his name.

“When he came to National Bank, the bank was looking for an experienced CFO - with experience working with listed companies - to support our transformation agenda. We reviewed his work at The Standard group, DHL, Mumias among other blues chip companies and he had the qualifications we sought. He has been doing his job well before this Mumias saga broke,” the bank said in a statement.

Contacted by the Nation, NBK’s chief executive Munir Ahmed said he was unable to answer any queries at the moment as he was dealing with the crisis currently facing the bank.

National Bank recorded an operating profit of Sh2.4 billion, 34 per cent up from the Sh1.8 billion posted in the same period in 2013.

Loans and advances to customers grew to Sh65.6 billion, an increase of Sh26.1 billion, translating to a 66 per cent.

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