Corporate NewsStandard Chartered Bank Appoints Two new Members to the Board

Standard Chartered Bank Kenya has appointed technology and innovation expert Nivedita Sharma and banking professional Birju Sanghrajka, to replace Engineer Patrick Obath and Ian Bryden who recently left the board

Birju Sanghrajka takes up the role of executive director of Standard Chartered Bank Kenya Limited. He has been with the bank for the past 22 years and has worked in various roles including; corporate banking, corporate finance and transaction banking in Kenya, the United Kingdom, South Africa and the United Arab Emirates.

Currently, Birju Sanghrajka is the head of Standard Chartered’s Corporate, Commercial and Institutional Banking Client Coverage business in East Africa where he oversees the delivery of exceptional service to clients.

Birju holds a Bachelor of Science degree in Business Economics and Finance from Loughborough University, UK.

Nivedita Sharma will serve as a non-executive director on the board chaired by Kellen Eileen Kariuki. She is a tech expert and currently serves as the Chief Operating Officer at BRCK, a software company that provides free public wifi to low-income neighbourhoods in Nairobi.

Nivedita Sharma co-founded eLimu, a company credited for digitizing the Kenyan Primary School curriculum for revision and literacy. She serves on different boards including on the Board of Software Technologies Limited and is a member of the Advisory Board of Jaza Energy.

Nivedita has a Bachelor of Arts degree in Economics from Ithaca College, New York, US and is a 2014 Acumen East Africa fellow.

Standard Chartered Bank Results

Standard Chartered Bank Kenya reported a 19% growth in net profit in the first three months to March 31 2021. The lender posted an improvement in net profit of Kes 2.39 billion at the end of March 2021, compared to a net profit of Kes 2.01 billion posted during the same period in 2020.

The growth that rose to the pre-COVID-19 levels was attributed to the slashing of operational costs resulting from cutting its staff members by 200 in November last year. Operating expenses dropped by 15% to Kes 4.595 billion at the end of Q1 2021, from Kes 5.383 billion in the same period in 2020

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