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Kenya

K-Rep Bank appoints new managing director

K-REPNAIROBI, Kenya, Jun 23 – K-rep Bank has appointed Titus Karanja as the managing director.

He will take over the role of MD and CEO effective July 1, 2015, following the retirement of Albert Ruturi whose five-year term at the helm of the bank has propelled its banking profile and significantly increased profits.

Prior to joining K-rep Bank, Karanja was the director of co-operatives banking division at Co-operative Bank of Kenya.

He brings to the bank a wealth of experience drawn from the banking and financial services industries having served in various capacities as Head of Investment and Merchant Banking at Co-op trust Investment Services Ltd. and as the Head of Kenya Securities for the African Alliance Investment Bank.

He holds a Bachelor of Commerce degree from University of Nairobi and is a qualified chartered accountant of the Association of Chartered Accountants (ACCA).

He is a member of the CDSC (Central Depository and Settlement Corporation) Business Conduct Committee and has in the past served in roles such as Resource person for the NSE investment Awareness Campaign, member of NSE’s Trading Committee as well as NSE’s Social Investment Committee.

Announcing his appointment, K-rep Bank’s Board of Directors Chair James Mworia, said “Mr Karanja’s notable experience, wide industry knowledge and stellar reputation of improving financial services and operational efficiency marked him out as the ideal person to take us into a new era. It is particularly pleasing to be able to attract someone of Karanja’s standing as an admired Kenyan banking executive to take on this influential role at this important time in the bank’s development”.

Karanja said he is honoured to be joining K-rep Bank and added that “I want to acknowledge the great success of Mr Albert Ruturi and the team in building K-rep Bank into a bank with a strong heritage of serving Kenyans. Kenyan enterprise owners are continuously and fundamentally shifting how they access their finances and drive growth for themselves as individuals, their business ventures and the greater society, and K-rep Bank through the provision of innovative and robust banking experience aims to be the financial services partner of choice for all its current and future customers. I am looking forward to becoming a part of this growth with K-rep Bank”.

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