Commercial banks have elected Paul Russo, CEO of KCB Group, as the new Chairperson of the Kenya Bankers Association (KBA) during the Association’s Annual General Meeting on Friday afternoon.
- •He replaces NCBA Group Managing Director, John Gachora, who served in the role since June 2021.
- •At the same event, Betty Korir, CEO of Credit Bank, was re-elected as Vice Chairperson. Her continued role strengthens leadership continuity within the Association.
- •This leadership change comes at a crucial moment where the banking sector is facing pressure from the Central Bank of Kenya (CBK), which wants loan pricing tied to the Central Bank Rate (CBR) plus a fixed margin (“K”) which it believes would improve rate transparency and support monetary policy.
However, KBA opposes the proposal arguing that such a formula may limit access to credit, especially for small businesses. KBA instead supports using the interbank rate as a more flexible and market-driven benchmark.
With CBK threatening penalties for non-compliant banks, and rate inconsistencies already visible across institutions, Paul Russo now faces the challenge of unifying the sector’s response and leading critical negotiations with the regulator.
Paul Russo: Banking Strategist and Industry Reformer
Paul Russo became CEO of KCB Group in 2022. He has led the bank through key regional acquisitions and a robust digital transformation.
His leadership style blends operational discipline with a strong focus on ESG, earning him national and international recognition.
As Chair of KBA, Russo is expected to use his influence to guide the industry through this delicate regulatory phase, while advocating for reforms that align with market realities.
Betty Korir: Continuing the Inclusion Agenda
Re-elected as Vice Chairperson, Betty Korir continues to be a key figure in advancing SME financing and inclusive banking.
As CEO of Credit Bank, she has consistently pushed for better credit access for underserved markets, particularly women-led enterprises and small businesses.
Her reappointment ensures continuity in KBA’s leadership and strengthens the Association’s commitment to responsible banking and customer protection.
