11 March 2011

Barclays Bank of Kenya Ltd (Barclays Kenya) has been selected as “Best Retail Bank in Kenya” by Asian Banker magazine. The award is part of the publications annual competition that analyzes institutions from around the world to recognize the firms that set the industry standard.

The awards will be held on March 11th at Shangri La Hotel, Kuala Lumpur.

The magazine assessed the performance of Kenyan banks against a scorecard that its editors and external consultants developed. During the process they uncovered that consumer banking has come under significant pressure, and many of the orthodox approaches that banks have relied on in the past for success may have to undergo rethinking as a result. Fighting to protect wallet share has become paramount, and there is a strong need for new answers.

After a three month evaluation of evidence and financial data, as well as industry benchmarking, Barclays was identified as the bank that best responded to these evolving dynamics.

Other awards for Africa were Best Bank in South Africa which was awarded to Absa Group, the South African bank majority owned by Barclays.

"We are very pleased to receive this recognition," said Adan Mohamed, Managing Director of Barclays East and West Africa. "This award recognizes Barclays resilient ability to deliver excellent results while making our customers lives much easier. The business model Barclays has built over time has enabled us to respond to market volatility and continue to grow."