Chase Bank has reported a 58 percent increase in profit after tax from KES 381 million in 2010 to 602 million in 2011. Corporate Social Responsibility has been very high on the Bank's agenda following a donation of KES 30 million toward the Strathmore Business School Library in 2011. The Bank continues to further its efforts to target the growing youth market that has emerged,  alongside the SME segment as strong contributors to the country’s economic growth. The bank has partnered with several Universities and other academic institutions to support and boost the bank’s ethos of excellence, and breed talent to further the quality of education for youth and professionals in Kenya.

Through the Chase Group Foundation, the bank has entered into a three year partnership with AMREF to support the Stand Up for African Mother Initiative. The sponsorship will total to  Kenya Shillings 45 million and will go towards the training an extra 6,000 midwives per annum, who could save the lives of 70,000 mothers, reducing maternal deaths in Africa by 25 percent. Chase Bank is the principal bank partner for this noble cause that entrenches the Banks commitment to support and empower women throughout the country. The Bank has also donated Kenya Shillings 4 million towards the production and distribution of sanitary towels to under privileged pubescent girls in partnership with Zanaa Africa.

The Bank continues to strengthen its presence countrywide through an aggressive expansion strategy and will open additional branches in Kisii and Meru amongst other major towns in the country in its journey to become a strong Kenyan brand.

An aggressive sales and branch expansion strategy  saw to a 47 percent increase in customer deposits from Kenya Shillings 16.9 billion in Sept 2010 to 24.8 billion at the close of 2011. Similarly, the balance sheet grew by 67% to stand at 36.5 billion from 2108 billion the previous year. Total Shareholders’ funds grew consistently to 73% to settle at 2.9 billion at the end of 2011.

The bank continues to strengthen its corporate governance structures at the Board level with the appointment of Mr. Michael Turner to the Bank’s Board of Directors. Michael is the Managing Director of Actis in East Africa and has been responsible for Actis’s 200million dollars Private Equity investments in East Africa for the last twelve years and the 93million dollars  Pan Africa Actis Africa Agribusiness Fund.

 “The successful strategy of increasing our branch presence as well as growing customer numbers and deepening the relationship we have with existing customers by providing them with value adding partnerships will drive our performance and growth for the rest of the year” said the bank’s CEO, Mr. Duncan Kabui.

 In December 2011, the Bank signed up a senior debt facility of 10 million dollars with DEG. Earlier in the year, the bank signed up a similar partnership with PTA Bank. Partnership with development finance institutions will enhance the bank’s ability to expand and innovate in the region to better serve the SME market.

In July 2011, the bank implemented a new core banking software, Oracle Flexcube, to better serve its growing customer numbers and to leverage on technology to provide innovative products across all delivery channels online and on the mobile phone.

-Press Release