Members of the Kenya Bankers Association (KBA) have re-elected KCB Group Chief Executive Officer Paul Russo as Chairperson and Credit Bank CEO Betty Korir as Vice Chairperson for the 2026/2027 term, extending a leadership team that first assumed office last year and is overseeing the banking sector’s strongest lending recovery in recent years.
The duo’s reappointment was ratified during the Association’s 64th Annual General Meeting held in Nairobi on June 19, 2026.
KBA serves as the representative body for Kenya’s commercial banking sector, bringing together 46 member institutions with combined assets worth more than KSh7.7 trillion. The organisation advocates for a stable, competitive and inclusive banking environment by engaging policymakers and regulators to improve access to affordable credit for individuals, households and businesses.
Their re-election coincides with a period of improved performance within the sector. Private sector credit growth rose to 9.3% in May 2026, a significant turnaround from the 2.9% contraction recorded in January 2025. At the same time, average commercial lending rates eased to 14.5%, down from 14.7% in February 2026.
Also Read: Chinese Backing Pushes Spiro’s Total Funding to US$270 Million
Industry analysts attribute the recovery to cumulative Central Bank of Kenya rate cuts totalling 425 basis points during the easing cycle, as well as the full implementation of the Risk-Based Credit Pricing Model in March 2026. The framework allows lending rates to respond more closely to changes in monetary policy.
The banking industry has also secured a key policy win following consultations with the National Treasury. Treasury Cabinet Secretary John Mbadi agreed to scrap annual compliance milestones tied to the proposed KSh10 billion minimum core capital requirement after concerns emerged that smaller banks could reduce lending activity in a bid to meet the targets.
KBA Chief Executive Officer Raimond Molenje said the decision supports the sector’s broader objective of driving private sector credit growth into double-digit territory.
As Russo begins his second term at the helm of the association, the banking sector enters the new cycle with strong capital buffers, declining lending rates and a regulatory framework increasingly geared towards supporting credit expansion.
