Annual REPORT

Recommendations

Info

MANAGING DIRECTOR & CEO’S STATEMENT (Continued) ANNUAL <strong>REPORT</strong> AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015 · Diaspora Banking Throughout 2015 the Bank made major inroads in growing and diversifying diaspora business and getting market share from the market pace setters. We have established a robust network of Agents to drive business in the high source areas in North America, Western Europe and Middle East. Through the Flagship M-Kenya Daima Diaspora Account our Diaspora customers have been able to invest bank home in real Estate, Mortgage Financing, Education, Stocks among others without the need to travel to Kenya. This business line has been greatly supportive of our rapidly expanding alternative business and digital channels in which the bank has committed a huge investment aimed at enhancing non funded income lines. Sacco Business The Bank made key successes in growing Sacco business in 2015 especially in the area of providing innovative payment solutions to their customers. The Saccos appoint the bank as their transactional Agent whereby customers deposit and withdraw cash through our banks branches. This has been very value adding to these clients but is also a revenue opportunity for the bank. In addition, they clear their cheques through our Bank further enhancing this beneficial business relationship. In 2015, The Bank managed to establish 7 new such partnerships with Saccos spread all over the Country. In addition, the Bank has developed value adding innovations like ATM Card less solution for Saccos where members can withdraw from our ATM network through their mobile platform. By leveraging on this strategy we managed to mobilize substantial additional deposits in form of Fixed Deposits and running balances from operational accounts. The above partnerships have also bolstered the bank’s image. We are bank that is able to serve wide array of customers and segments across the country through bank’s networks. Family Bank Head of Corporate Banking and Murata Sacco CEO James Kimani during the Cheque Partnership Launch in Muranga. Information Technology, Systems and Processes In order for the Bank to continuously offer excellent customer service and remain competitive, we continued to have more investments in our ICT systems. The key result out of this approach has been systems availability and operational excellence across all functions and branches. The key investments to our ICT Systems last year include the following: 22
ANNUAL <strong>REPORT</strong> AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015 MANAGING DIRECTOR & CEO’S STATEMENT (Continued) · ICT infrastructure We enhanced our Core Banking System, Flexcube and information Communications Technology Infrastructure including operationalisation of redundancy systems in the branches.This enabled the Bank to provide all round services to our customers both at the branch and at all virtual channels. We now have 24/7 support services available with fully automated notification. This also enabled us ensure that all critical systems are replicated at DR Sites and improvement of the overall customer experience thoughout the Bank. · Business Support The Bank continued to enhance its valuable business through various projects in 2015. The Data centre infrastructure Management system enabled staff to get a 360 degrees visibility of Data Components .This included improving the Capacity of the servers to adequately Support the needs of our fast expanding business. We also attained key network milestones like the Data centre core and security upgrade. These two projects were crucial for information security and control and aiding in developing decision models for the whole Bank. · Operational excellence We continued to provide adequate capacity building to our ICT and operations Staff to drive excellence in all processes. This was supported by the roll out of the SLA monitoring system between branches and Head office to improve turnaround times. This helped the bank to Support use of Alternative Channels to ensure full availability of systems including a 24 Hour Monitoring mechanism .We have improved performance and reliability of the ATM by migrating the ATM interface from a Microsoft Windows environment to an AIX (IBM) environment. The AIX environment (which the core banking application runs from) is more stable. People Talent As a Bank our greatest investment and assets remains our people whose engagement continues to be very high. The bank is able to attract and retain outstanding talent to strengthen the company. Our core values of humility, integrity, team work and winning together have offered great push with the embedding of a high performance culture through the Balanced Score Card. We continue to develop our staff through local and overseas training to enhance their skills and leadership qualities. We also encourage our staff to commit themselves to continuous learning in both professional and personal endeavors. Our Leadership and Training Centre continued to equip our Staff complement with rich and diversified skills to meet the needs of our very enlightened customers and Strategic Partnerships. We have a robust e-learning platform and training remains a key performance target for each staff. As a Bank, a well-motivated and competent work force is key to improving performance and competitiveness. All our Management team have undergone thorough and comprehensive leadership training programme to build beter teams into to the future. Our staff complement continues to be well diversified in terms of age, gender, skills, expertise and professional standing. We continue to enhance the performance culture to ensure a sustainable return to Stakeholder’s year on year. In 2015, various staff motivation programmes continued to be effected with opportunities for internal staff development and also getting high level resources from the industry to optimally support our business. 23
Page 1 and 2: ANNUAL REPORT AND FINANCIAL STATEME
Page 7 and 8: BOARD OF DIRECTORS ANNUAL REPORT AN
Page 11 and 12: CHAIRMAN’S STATEMENT REVIEW OF TH
Page 13 and 14: CHAIRMAN’S STATEMENT (Continued)
Page 23: ANNUAL REPORT AND FINANCIAL STATEME
Page 29 and 30: FAMILY BANK INSURANCE AGENCY LIMITE
Page 35 and 36: CORPORATE GOVERNANCE STATEMENT ANNU
Page 37 and 38: REPORT OF THE DIRECTORS ANNUAL REPO
Page 47 and 48: 2 ACCOUNTING POLICIES (Continued) N
Page 49 and 50: NOTES TO THE FINANCIAL STATEMENTS (
Page 75 and 76:
ANNUAL REPORT AND FINANCIAL STATEME
Page 77 and 78:
NOTES TO THE FINANCIAL STATEMENTS (
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
NOTES TO THE FINANCIAL STATEMENTS (
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Branches ANNUAL REPORT AND FINANCIA
show all

Annual REPORT

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?