NCBA appoints Tirus Mwithiga as head of retail banking

NCBA Bank #ticker:NCBA has appointed Tirus Mwithiga as the new group director for retail banking as it seeks to strengthen and grow its retail business.

In a statement Tuesday, NCBA Group managing director John Gachora said the appointment took effect on May 4 and has received regulatory approvals.

The position has been lying vacant since NCBA, which was borne out of a merger between NIC Bank and the CBA Group, took effect last year.

“NCBA Group is delighted to have Tirus join the Bank. This appointment reflects our commitment to constantly strengthen our capacity even during the ongoing pandemic,” said Mr Gachora.

Mr Mwithiga has 29 years of experience in retail banking and wealth management and has served in an array of leadership roles in local and global lenders, including Barclays Bank #ticker:NCBA and Standard Chartered #ticker:SCBK.

Prior to joining NCBA, he worked with StanChart Singapore, where he served as the (Global) Head of Network Planning and Branch Design across 37 markets.

He is a certified banker with professional training from the London Institute of Banking and Finance and is currently pursuing a Chartered Banker master’s degree from Bangor Business School, Bangor University, United Kingdom.

Mr Gachora said one of his immediate tasks will be to support the bank as it navigates the ongoing economic shockwaves caused by Covid-19 that has negatively affected customers.

NCBA Group restructured Sh35 billion loans equivalent to about 14.2 percent of its net loans at the end of March to cushion customers hit by the coronavirus crisis.

The bank, like the rest in the industry, announced repayment breaks of up to three months on all loans as customers hit by cash flow hitches seek flexible terms.

The bank did not comment on the potential impact of the loan restructuring on its earnings this year.