KCB CEO Has Been Buying Into the Success He Is Driving

KCB CEO Martin Oduor-Otieno

The chief executive of KCB Group has bought KCB shares in a demonstration of his confidence in the company he leads.

KCB’s annual report shows chief executive Martin Oduor-Otieno bought shares last year.

Mr Oduor-Otieno has been the CEO of KCB Group since 2007 acquired 509,180 shares now valued at Sh12 million, analysts regard this insider buys as symbolic.

“Few people are better placed to evaluate a company’s prospects than those who actually run it, which is why many investors regard directors’ share dealings as a key indicator of future prospects,” said an analysts at Kestrel Capital who sought anonymity.

It’s not clear whether Mr Oduor-Otieno bought the shares through the open market at Nairobi Securities Exchange (NSE) or via KCB’s Employee Share Option Scheme (ESOP) through which staff acquired shares worth Sh18. 4 million at Sh18.62 a piece, according to the bank’s 2011 annual report. Since then shares have risen to Sh23.75.

KCB’s net profit rose 36.7 per cent to Sh2.4 billion in quarter one while Equity’s increased 13.3 per cent to Sh2.6 billion, making it Kenya’s most profitable lender and highlighting the importance of regional operations. KCB looks poised to become Kenya’s most profitable lender.


Tags assigned to this article:
kenya

You may have an interest in also reading…

Indonesia To Top “Happy Index”

Indonesian are the world’s most content people according to new research. Emerging markets and half of the BRIC economies (represented

PwC: Africa’s Hospitality Sector Poised for Growth

Africa’s hospitality industry is set to meet the rising demand from international tourists, local business travellers, and the continent’s own

UNCTAD: Africa Rising

Africa needs investment to advance sustainable development and see the continent prosper. James Zhan, Astrit Sulstarova and Mathabo le Roux