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Ceo’s Statement continuedincrease its outreach, with a footprint of over1,000 channels and outlets nationwide easingcustomers’ access to various services andproducts.To better serve our customers, the bankinghours were extended to between 8.00 am to4.30pm on weekdays and 8.00am to 12.00pmon all Saturdays.Business DevelopmentDuring the year, as part of our continuouseffort to deliver innovative financial servicesto our customers, we launched new productsand services which include; “Cash Back”;“Fanikisha”, and “Hekima Milele”. The “CashBack” product allows customers to use theirATM cards to pay for their shopping and at thesame time withdraw cash from retail storesand petrol stations. We continue to roll outthe service to more outlets increasing ouravailability and accessibility.In recognition of the pivotal role that womenplay in our society, we launched “Fanikisha”loan products marketed as; Shaba, Imara,Fedha, Dhahabu, Almasi and Platini. These allinclusiveproducts target women in business,enabling them to access affordable loans fromKshs1, 000 to over Kshs10 million.“Hekima Milele” is a mortgage and investmentproduct developed as a result of the strategiccollaboration between Housing Finance (HF),British-American Insurance Company (Kenya)Limited (BAICL) and the Bank, leveragingon the competitive advantages of the threeinstitutions.Agriculture forms the back bone of oureconomy. As a bank we have special ties withthe agricultural sector as we owe our existenceto it. To ensure that farming is commercialised,the bank launched Kilimo Biashara,(commercialising agriculture) and WarehouseReceipt System aimed at economicallysupporting players in the agricultural sector.Uvuvi Biashara (commercialising fishing) willtarget the fisheries sector. These productsprovide affordable credit facilities to farmersand fishermen.I am also proud to report that during thelatter part of the year, we obtained principlemembership to VISA (the largest internationalcard association). This is another majormilestone for the Bank, as it has enabled thebank to issue VISA cards and to use our ATMsand Points Of Sale (POS) to acquire VISAtransactions. This will enable our customers totransact anywhere in the world.Staff DevelopmentThe Bank continued with its aggressive staffcapacity building through hiring of new staffwith specialised skills and competenciesas well as staff training and development.The Bank continued with its very successfulleadership development program which sawa number of staff attend training at HarvardBusiness School, IESE Business School inSpain, Strathmore Business School andBoulder Microfinance Leadership Program.The organisational culture that values peopleand supports business, grounded on corevalues of Professionalism, Integrity, Creativity,Teamwork, Unity of purpose, respect anddedication to customer delight and effectivecorporate governance continue to bestrengthened.Future OutlookThe year 2008 started on a low note dueto the post election crisis that impacted onour business momentum. However we arepleased to note there was no physical damageto any of our business premises and all ourstaff are safe. We have undertaken a review ofthe impact of the crisis on our business and donot expect any material impact. Despite this,we are optimistic that we will achieve our settargets for the year 2008. The critical successfactors for our business which include, people,systems and products are well grounded toassure resilience.Looking into the future, we intend to continuewith the planned expansion strategy toincrease our presence nationwide and withinthe East African region. To support the growthstrategy, the Bank will continue to invest intechnology optimization to meet the newmarket needs and challenges. In addition, thebank will continue to invest in the requisiteinternal capacity in terms of human capitalto effectively deliver products and services tomanage the Bank into the future.ConclusionI take this opportunity to thank the Board,our customers, staff, development partners,shareholders and other stakeholders who havecontributed toward these great achievements.I am confident that the Bank is adequatelypositioned for the next phase of growth andexpansion both locally and in the region inline with our vision “To be the preferred Micro-Finance services provider contributing to theeconomic prosperity of Africa….”Thank you.Dr. James Mwangi, MBSChief Executive Officer and ManagingDirector.122007 Annual Report and Financial Statements
Taarifa ya Afisa Mkuu na Mkurugenzi Mtendaji“ Faida ya mwaka kwa jumla kabla ya kutozwa ushuru kwa mwaka wa 2007 ilikuakwa asilimia 116% na kufika shilingi bilioni 2.38 ikilinganishwa na shilingi bilioni1.10 zilizopatikana mwaka wa 2006. Ukuaji katika faida umetokana na ongezekola asilimia 73% katika jumla ya mapato ya uendeshaji kufikia shilingi bilioni 5.82ikilinganishwa na shilingi bilioni 3.37 zilizopatikana mwaka wa 2006.”Ni furaha na heshima kuu kwangukuwasilisha kwenu ripoti ya benkiya mwaka 2007. Ufanisi borauliopatikana wakati wa kipindi cha mwakahuo ulipandisha benki katika viwango vipyana kuifanya kutambuliwa nchini na kimataifa.Biashara ilikua katika nyanja zote na kuleteawashika dau matumaini bora zaidi.UzingativuBenki iliendelea kuzingatia na kulinganishamaono yake ya kuwa mtoaji huduma zakifedha anayependelewa na kuchangia katikaufanisi wa kiuchumi wa Afrika. Uzingatiaji zaidiwa huduma kwa mteja uliimarishwa na kufikiakiwango cha juu zaidi katika kutafuta kutimizalengo letu la kukusanya rasilimali na kutoamikopo kwa wateja wetu.UCHUNGUZI WA KIFEDHAUkuaji wa benki hii ambao haujashuhudiwakatika sekta ya benki umetokana na usaidiziwenu na mfano wa kipekee wa biasharaambao unazingatia kiwango kikubwa nafaida finyu huku ikirahisisha na kuweka wazihuduma za mashirika ya kifedha. Nina furahakusema kwamba faida ya mwaka ya jumlakabla ya kutozwa ushuru kwa mwaka wa 2007ilikua kwa asilimia 116% na kufika shilingibilioni 2.38 ikilinganishwa na shilingi bilioni1.10 zilizopatikana mwaka wa 2006. Ukuajikatika faida umetokana na ongezeko la asilimia73% katika jumla ya mapato ya uendeshajikufikia shilingi bilioni 5.82 ikilinganishwa nashilingi bilioni 3.37 zilizopatikana mwaka wa2006. Kiwango cha gharama kikilinganishwana mapato kimepungua kwa kiasi kikubwana kufikia asilimia 59.4% kutoka asilimia 67%kutokana na kuimarika kwa kiwango kikubwakwa utendaji bora katika uendeshaji shughuli.Katika mwaka unaoangaziwa, jumla yarasilimali zetu zilizoonyeshwa kupitia kwamizania ya jumla ya benki zilikua kwa asilimia166% na kufikia shilingi bilioni 53.22 kutokashilingi bilioni 20.02 mnamo Disemba 2006.Ukuaji katika rasilimali ulisaidiwa na ongezekola ufadhili kupitia kuwekwa kwa mtaji washilingi bilioni 11 na kuongezwa kwa denisaidizi la muda mrefu la shilingi bilioni 4.Msingi wetu wa akiba uliongezeka kwa asilimia93% na kufikia bilioni 31.53 kutoka shilingibilioni 16.33 mwaka wa 2006.Ukuaji katikaakiba ulitokana na ongezeko la asilimia 81%la idadi ya akaunti za wateja na kufikia milioni1.8 kutoka akaunti milioni 1.0 mwanzoni mwamwaka huo. Matawi mapya yaliyofunguliwawakati wa kipindi cha mwaka huo yalichangiaasilimia 14% ya akaunti hizo mpya.Ili kusaidia shughuli za kiuchumi za watejawetu, benki iliongeza mikopo hadi shilingibilioni 21.84 kutoka shilingi bilioni 10.93 katikamwaka uliotangulia. Ukuaji huu katika daftariya mikopo ulidhihirishwa na idadi ya akauntiza mikopo ambazo ziliongezeka na kufikia392,822 kutoka 252,147.Nina furaha kutangaza kwamba benki iliafikiaupunguaji katika kiwango cha jumla chamikopo isiyolipwa kutoka asilimia 6.95% hadi5.39%.Wakati wa kipindi cha mwaka unaoangaziwa,jumla ya fedha za wenyehisa imeongezekakwa kiwango kikubwa kufikia shilingi bilioni15 kutoka shilingi bilioni 2.2. Ukuaji huumkubwa ulidhihirika pia kwenye soko la hisa laNairobi huku mtaji wetu wa hisa ukiongezekana kufikia takriban shilingi bilioni 54 kutokashilingi bilioni12.6.Ningependa kuwapongezawenyehisa kwa uamuzi wao wa busara wakuidhinisha uwekezaji wa hisa wa asilimia24.99% na Helios EB kwa mtaji wa shilingibilioni 11 zaidi.Ukuaji wa kiwango kikubwa wa benki hiiumetambuliwa humu nchini na kimataifa.Sifa kuu zilizotunukiwa benki hii ni pamoja nakutuzwa tuzo la Global Vision Award katikamkutano uliofanywa Juni 2007, kutajwa kuwabenki bora zaidi nchini Kenya na EuromoneyAwards for Excellence mnamo Julai 2007 nakuzoa tuzo sita katika sherehe ya Kenya AnnualBank Awards mnamo mwezi Novemba.Uchunguzi wa UendeshajiShughuliMpango wa upanuzi kwa kuongeza matawi,mitambo ya ATM, na vituo vya uuzaji, ukuajikatika idadi ya wateja na ukuaji kwenye daftariya mikopo , yote yamechangia utendaji bora.Ili kurahisisha na kuwezesha kufikiwa kwahuduma za kifedha na Wakenya zaidi, benkiimekuwa ikitekeleza mpango wa kimkakatiwa upanuzi.Katika mwaka wa 2007, benki ilifungua matawi29 mapya, kuweka mitambo 150 zaidi ya ATM2007 Annual Report and Financial Statements 13
Page 3: Notice of Annual General MeetingNot
Page 6: Chairman’s Statement continued“
Page 9 and 10: Taarifa ya Mwenyekiti inaendeleaZai
Page 11: Ceo’s Statement“ … the annual
Page 16 and 17: Financial HighlightsGROWTH IN GROSS
Page 18 and 19: Key AchievementsAugust 2007 - Our u
Page 21 and 22: Statement on Corporate Social Respo
Page 23 and 24: Board of DirectorscontinuedPeter Ga
Page 25 and 26: Senior ManagementPeter Makau, Direc
Page 27 and 28: Ripoti ya WakurugenziKwa mwaka ulio
Page 30 and 31: Statement of Directors Responsibili
Page 33 and 34: Balance SheetAs at 31st December 20
Page 35 and 36: Statement of Changes in EquityFor t
Page 37 and 38: Notes to the Financial StatementsFo
Page 53: Notes to the Financial StatementsFo
Page 58: Notes to the Financial StatementsFo
Page 63 and 64:
Notes to the Financial StatementsFo
Page 65 and 66:
Notes to the Financial StatementsFo
Page 67 and 68:
Countrywide Branch NetworkHEAD OFFI
Page 69 and 70:
Notes / Maelezo2007 Annual Report a
Page 71 and 72:
Proxy FormThe Company SecretaryEqui
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