KCB lays off 28 at Rwanda subsidiary
Kenya’s largest bank by assets, KCB Group, has signalled further job cuts with 28 staff at its Rwandan subsidiary being let go.
In response to queries raised by Daily Nation, the bank said, “The review is an ongoing process that has also seen us relook our workforce in keeping with the best business practice in an industry that is undergoing a major transformation driven by fast evolving technology changes, and a dynamic regulatory regime.”
“The process is being handled in accordance with the laws and once the exercise is completed, a formal communication will be shared.”
In light of interest rate caps imposed upon the banking sector in Kenya late last year, the bank has stated that it is conducting an ongoing review of its operations.