Chase Bank Leads Peace Building Efforts

Efforts to restore cordial relations among the people living at the coast began in earnest last month as Kenyans struggled to get their lives back on track on the wake of post election disturbances.

Chase bank has taken an active role in participating in the peace building efforts in partnership with Pwani for Peace (P4P) a leading community support and development organization based in Mombasa.

Speking during a dinner in aid of P4P Mr. Zafrullah Khan, the bank's managing director says, "as a start we are actively involved in raising funds towards Pwani for Peace initiatives that are designed to promote peaceful coexistence of coastal residents." P4P targeted to raise Ksh 4.5 million for some of its initiatives.

He explained that the bank was impressed by the organisation's efforts. "as a socially responsible bank we want to be involved with the issues that affect the people in the communities where we operate and P4P presents a good avenue for us to make a much needed impact on the lives of people here at the coast," he explained.
Chase Bank, whose coast branch is located at Jubilee Building on Moi Avenue is a recent entrant at the coast but is quickly making a name in the local scene and is poised to work closely with the people at the coast.

After slightly over a decade of quiet growth, the company has entered the fray of the bigger players with a forte that is set to give it a piece of the action pie. What better time when its financial performance would make others turn green with envy. Last month the company announced a 40 per cent rise in pre tax profits which grew from Ksh 111 million in the financial year ending December 31 2006 to Ksh 179 million in December 2007. This came on the back of a 70 per cent rise in pre tax profits from the previous year and showed the bank was maintaining a sustained growth path.

At the latest branch opened in Mombasa late last year and which is arguably one of the most beautifully designed banking halls in the country, Mr Khan said that there was already a flurry of activity as coast residents flock to their offices and engage their phone lines placing their orders. The Mombasa one is located in the Central Business District on the ground floor of Jubilee building and is open extended hours of 8.30 a.m. to 4 p.m. and every Saturday.

"Our move to Mombasa branch was a fundamental starting point that reflected the core of our corporate values aiming at providing all services, facilities and distinctive banking solutions in a modern and creative way" said Mr Khan, adding that the bank would also strive to meet the aspirations and the needs of its clients in various economic sectors.

He noted that despite being a recent entrant into the Mombasa banking scene, developing new business was competitive but that the bank had its new approach already yielding fruits. "Our relationships have meant that we walk with our customers every step of the way and we have opted to take this to a new level", he added.

The result is similar at all the bank's other branches. Mr Khan pointed out that their network grew within a remarkably short time span, branching out from the Wabera street head office to Village Market and Landmark Plaza and Mombasa with Eastleigh and Parklands in hot pursuit.

Today the total number stands at six but the extensive retail expansion is continuing with a number of other locations earmarked for the near future. He said that it is highly likely that by the end of this year the bank will have added another two branches to its network.

Yet despite this fast but organic growth, Mr Khan maintained that the firm still retains its hallmark flexibility and ability to customize service according to various clients' needs. "This has been one of our strongest points since we started out and we will retain it wherever we go and however big we grow," he posited, adding that as a service business, banking was purely about the experience that people had with your business. The better the experience, the more they will stay. "We are in this business because of our customers and we will do anything we can to make them comfortable," said Khan.

Last year, the bank's achievements helped it take away a number of prizes in Kenya's annual banking survey that culminated in the Banking Awards 2007 where it added a feather to its cap. Banking industry players and analysts alike were astounded when the bank emerged among the best performers, being voted Best Bank in the small banks category. Known as Category C this was the segment set for banks with assets of Ksh 5 billion and below. The bank also topped the icing by making a close third in the Fastest Growing Banks category.