{"id":20085,"date":"2021-01-01T20:45:05","date_gmt":"2021-01-01T20:45:05","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=20085"},"modified":"2021-01-01T20:45:05","modified_gmt":"2021-01-01T20:45:05","slug":"top-ncba-executives-exit-bank-amid-layoffs","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs","title":{"rendered":"Top NCBA executives exit bank amid layoffs"},"content":{"rendered":"

AfricaPress-Kenya:<\/strong> Jeremy Ngunze has left his position as the Executive Director of NCBA Bank Group and Group Director Corporate Development and Regional Business.<\/p>\n

In a public notice on Thursday, NCBA said Mr Ngunze had opted for early retirement alongside Livingstone Murage, who was until yesterday the Group Company Secretary and Group Director – Governance.<\/p>\n

Ngunze had been at the bank for 12 years, while Murage\u2019s exit marked the end of his 35-year stint at the lender.<\/p>\n

NCBA, which became Kenya\u2019s third-largest bank by market size following the merger with NIC Bank last September, had earlier announced plans to retrench staff amid a tough operating environment in the wake of Covid-19.<\/p>\n

\u201cToday, I announce that we are embarking on a process to reorganise our workforce, which will result in reduction of staff headcount,\u201d said Managing Director John Gachora in a statement to employees in November<\/p>\n

\u201cFor a company whose brand purpose is to inspire greatness, this is incredibly difficult to confront,\u201d added Mr Gachora.<\/p>\n

The reorganisation, he said, would be two-fold, with the first phase entailing a voluntary exit programme (VEP), which would see employees who wish to exit the company do so with a benefits package.<\/p>\n

In the second phase, whose outcome will depend on the VEP, workers will be declared redundant.<\/p>\n

To survive the tough times, Gachora said the bank\u00a0had since taken certain actions, including the reversal of an earlier recommendation to pay cash dividends to shareholders and early redemption of the bank\u2019s medium-term notes to save on interest payments.<\/p>\n

It has also closed more than a dozen branches where there was duplicity to cut costs.<\/p>\n

By the end of September, the banking industry had restructured close to Sh1.3 trillion worth of loans as part of efforts to help customers cope with the effects of Covid-19.<\/p>\n

Of the seven tier-one banks, NCBA and Absa Kenya suffered the highest drop in profitability in the first nine months of 2020, reporting pretax profits of 65 per cent and 59 per cent respectively.<\/p>\n

NCBA also recalled its dividends for the financial year ending 2019.<\/p>\n

Reorganising NCBA\u2019s workforce, Gachora noted, would protect the future of the company.<\/p>\n

He said while the bank had intended to retain all staff from the combined entities of NIC and CBA, the pandemic had disrupted such plans.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: Jeremy Ngunze has left his position as the Executive Director of NCBA Bank Group and Group Director Corporate Development and Regional Business. In a public notice on Thursday, NCBA said Mr Ngunze had opted for early retirement alongside Livingstone Murage, who was until yesterday the Group Company Secretary and Group Director – Governance. Ngunze […]<\/p>\n","protected":false},"author":84,"featured_media":20082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[7053,5168],"class_list":["post-20085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-absa-kenya","tag-ncba"],"yoast_head":"\nTop NCBA executives exit bank amid layoffs - kenya<\/title>\n<meta name=\"description\" content=\"Jeremy Ngunze has left his position as the Executive Director of NCBA Bank Group and Group Director Corporate Development and Regional\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top NCBA executives exit bank amid layoffs\" \/>\n<meta property=\"og:description\" content=\"Jeremy Ngunze has left his position as the Executive Director of NCBA Bank Group and Group Director Corporate Development and Regional\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-01T20:45:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/top_ncba_executives_5fef0cc85c4c2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"649\" \/>\n\t<meta property=\"og:image:height\" content=\"310\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Top NCBA executives exit bank amid layoffs\",\"datePublished\":\"2021-01-01T20:45:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs\"},\"wordCount\":386,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/top_ncba_executives_5fef0cc85c4c2.jpg\",\"keywords\":[\"Absa Kenya\",\"NCBA\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs\",\"name\":\"Top NCBA executives exit bank amid layoffs - kenya\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/top_ncba_executives_5fef0cc85c4c2.jpg\",\"datePublished\":\"2021-01-01T20:45:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Jeremy Ngunze has left his position as the Executive Director of NCBA Bank Group and Group Director Corporate Development and Regional\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/top_ncba_executives_5fef0cc85c4c2.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/top_ncba_executives_5fef0cc85c4c2.jpg\",\"width\":649,\"height\":310},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/kenya\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Top NCBA executives exit bank amid layoffs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#website\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/\",\"name\":\"kenya\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/kenya\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Top NCBA executives exit bank amid layoffs - kenya","description":"Jeremy Ngunze has left his position as the Executive Director of NCBA Bank Group and Group Director Corporate Development and Regional","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs","og_locale":"en_US","og_type":"article","og_title":"Top NCBA executives exit bank amid layoffs","og_description":"Jeremy Ngunze has left his position as the Executive Director of NCBA Bank Group and Group Director Corporate Development and Regional","og_url":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs","og_site_name":"kenya","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2021-01-01T20:45:05+00:00","og_image":[{"width":649,"height":310,"url":"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/top_ncba_executives_5fef0cc85c4c2.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Top NCBA executives exit bank amid layoffs","datePublished":"2021-01-01T20:45:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs"},"wordCount":386,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/top_ncba_executives_5fef0cc85c4c2.jpg","keywords":["Absa Kenya","NCBA"],"articleSection":["all news","economy","homepage-english"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs","url":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs","name":"Top NCBA executives exit bank amid layoffs - kenya","isPartOf":{"@id":"https:\/\/www.africa-press.net\/kenya\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/top_ncba_executives_5fef0cc85c4c2.jpg","datePublished":"2021-01-01T20:45:05+00:00","author":{"@id":"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Jeremy Ngunze has left his position as the Executive Director of NCBA Bank Group and Group Director Corporate Development and Regional","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#primaryimage","url":"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/top_ncba_executives_5fef0cc85c4c2.jpg","contentUrl":"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/top_ncba_executives_5fef0cc85c4c2.jpg","width":649,"height":310},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/kenya\/economy\/top-ncba-executives-exit-bank-amid-layoffs#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/kenya\/"},{"@type":"ListItem","position":2,"name":"Top NCBA executives exit bank amid layoffs"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/kenya\/#website","url":"https:\/\/www.africa-press.net\/kenya\/","name":"kenya","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/kenya\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/posts\/20085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/comments?post=20085"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/posts\/20085\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/media\/20082"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/media?parent=20085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/categories?post=20085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/tags?post=20085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}