Engineer Patrick Obath is set to step down from the board of Standard Chartered Bank Kenya at the end of this month according to a statement issued by the bank. He has been the Chairperson of the ten-member board since May 2019 and before that, he served on the board as an independent non-executive director for seven years.
Eng Patrick Obath will be the second person to leave the board of Standard Chartered Bank in recent months after Ian Bryden retired from the role of non-executive director in September 2020.
Standard Chartered Bank Kenya, Kenya’s sixth largest bank by assets, plans to hold a virtual Annual General Meeting (AGM) on 27th May 2021. The bank’s shareholders will get a chance to elect eligible members to serve on the board of directors.
In addition, investors are expected to approve the payment of a final dividend of KSh10.50 for each ordinary share and the payment of a first and final dividend of KSh168 million on the non-redeemable, non-cumulative, non-voting, non-participating and non-convertible preference shares.
Standard Chartered investors have until 11am on 25th May 2021 to register for the virtual event.
Also read: Standard Chartered Bank Expects Net Profit to Fall by Over 25%
