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National Bank Integrated Report & Financial Statements Bank on Better

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National Bank Integrated Report & Financial Statements Bank on Better Bank on better 2016 National Bank Integrated Report & Financial Statements Bank on better Jijenge Na National Bank Borrow from as little as Kshs. 5,000/- to Kshs. 5 Million to grow your business. Free Insurance for your equipment & machinery and Link your Mpesa Till Number to Your Bank Account Jenga Biashara Loan | Jenga Chama | Jenga Kilimo | Jenga Biashara Account For more enquiries please contact 0703 088 900, (020) 282 8900 www.nationalbank.co.ke [email protected] National Bank of Kenya National_Bank Nationalbank_ke National Bank is regulated by the Central Bank of Kenya CONTENTS About National Bank 1 Our Integrated Report 2 Our Value Creation Process 3 - 4 NEW Our Stakeholders 5 Our Promise 6 DIMENSIONS Our Business Model 7 5 Year Financial Performance 8 Our Strategy 9 BRIGHT Measuring Our Strategic Progress 10 AGM Notice 12 Notisi 13 FUTURE. A Word From The Chairman 15 - 16 Ujumbe Kutoka Kwa Mwenyekiti 16 - 17 Board of Directors 18 - 22 Word From The Managing Director 23 - 25 Tangazo Na Ripoti Ya Mkurugenzi Mkuu Na Afisa Mkuu (CEO) 25 - 27 Senior Management 28 - 32 Sustainable Projects 33 Focusing On What Matters 33 - 35 2016 Annual CSR Report 35 - 36 Risk Management 37 Bank’s Risk Profile 37 - 39 Corporate Information 40 Statement of Corporate Governance 41 - 44 Report of The Director’s 46 Statement of Directors’ Responsibilities 47 Independent Auditors’ Report 48 - 51 Financial Statements Statement of Profit or Loss and Other Comprehensive Income 52 Bank on better Statement of Financial Position 53 Consolidated Statement of Changes In Equity 54 Bank Statement of Changes In Equity 55 Statement of Cash Flows 56 Notes To The Financial Statements 57 - 112 Proxy 113 - 114 National Bank Contact Details 115 - 117 Bank on better Take your first step towards owning a home affordably through National Bank. Here is your chance to own a home in Kenya. We have; • Partnerships with reputable Developers, Lawyers, Contractors and Valuers • An easy and quick application processes • Advisory services from dedicated specialists available in all branches Residential Purchase | Plot Purchase | Equity Release | Construction | Diaspora Mortgage For more enquiries please contact 0703 088 900, (020) 282 8900 www.nationalbank.co.ke [email protected] National Bank of Kenya National_Bank Nationalbank_ke National Bank is regulated by the Central Bank of Kenya Bank on better ABOUT NATIONAL BANK History portfolio of products and financial solutions tailored to meet the requirements of a broad spectrum of customer segments. National Bank was incorporated on June 19, 1968. At that time, it was fully owned by the Government of Kenya. The The wide spectrum of products offered by the Bank include main objective for which the Bank was formed was to enable Financing, Trade Services, Mortgages, Account Services, Custo- Take your first step towards Kenyans access credit and other financial services. The Bank dy Services, Islamic Banking and Card Services, among others. would later be listed on the Nairobi Securities Exchange in owning a home affordably 1994. On May 24, 2013, the Bank rebranded with a new brand prom- Products and Services ise themed on the tag-line “Bank on Better”, as it sought to align its brand identity and livery with the overall transforma- through National Bank. National Bank provides Corporate Banking, Retail Banking tion of the Bank. Here is your chance to own a home in Kenya. We have; and Islamic Banking services with an extensive and growing • Partnerships with reputable Developers, Lawyers, Contractors and Valuers • An easy and quick application processes • Advisory services from dedicated specialists available in all branches 2014 2013 “New Outlets Look” “Transformation” Residential Purchase | Plot Purchase | Equity Release | Construction | Diaspora Mortgage New Branch look; Retail, Srategic focus to become For more enquiries please contact 0703 088 900, (020) 282 8900 Amanah and Premium Look. www.nationalbank.co.ke highly profitable and high Agency Banking; ATMs returns to shareholders [email protected] National Bank of Kenya National_Bank Nationalbank_ke National Bank is regulated by the Central Bank of Kenya 1985 - 1994 “The Glory Days” 2014 - 2015 “Digital Transformation” Pioneered the introduc- tion of computerized Pioneered the County online services in 1985. Solution offering and Privatized in 1994 University Smart Card. Revamped NatConnect OUR and NatMobile. 2013 - 2016 “Foundation Days” JOURNEY “Revamped Products” Incorporated as a Business Club Launch state-owned bank Premium Banking Small Enterprise Banking National Amanah Bancassurance Mortgage Products National Bank Integrated Report and Financial Statements 2016 1 OUR INTEGRATED REPORT National Bank of Kenya has just begun its journey towards Integrated Reporting (IR). This report represents the Bank’s first integrated report, and its preparation has been guided by the principles of the International Integrated Reporting Council (IIRC) and related frameworks. This report contains comprehensive information on the operational and financial performance of the Bank, its stakeholders, governance, material issues, risks and opportunities and how these influence and inform the Bank’s strategic objectives. In so doing, the report shows how the Bank creates value for its stakeholders, while ensuring that the resultant value creation is sustainable. Cognizant of the fact that this is its first step towards Integrated Reporting, the Bank intends to continuously improve its dis- closures on an annual basis as it embeds the guiding principles of IIRC and the fundamental concepts of the guiding framework into the reporting process. Our intention is to increase transparency, while providing more clarity to our stakeholders on the direction the Bank is taking. It is our hope that this report provides our stakeholders with better insights into our business - the nature of our operations, where we are and where we target to go in the future. We anticipate and invite our readers to share feedback on pertinent issues through our website, which is http://nationalbank.co.ke. Scope Six Capitals The integrated report covers the period January 1, 2016 to De- The six forms of capital disclosed in this report as identified cember 31, 2016 and includes the Bank’s future outlook and by the IIRC are: financial capital, manufactured capital, intel- goals. lectual capital, human capital, social and relationship capital and natural capital. It includes both financial and non-financial information. Fur- ther disclosures can be found on the bank’s website on http:// Through the deployment of these forms of capital in the nationalbank.co.ke. Bank’s business activities, the Bank is able to create value for its stakeholders. Business Divisions Assurance The Bank seeks to be inclusive, by incorporating all its key de- The Bank’s Annual Financial Statements for the year ended partments in the report. December 31, 2016 were audited by Deloitte & Touche. Targeted Readers This report is primed for all the Bank’s shareholders and oth- er key stakeholders to inform them on how the Bank creates value, now and in the future, while maintaining transparency and accountability. Board responsibility The report was approved by the Board of Directors of National Bank of Kenya on March 30, 2017. The board has the ultimate responsibility of ensuring the integrity of this report which in their view addresses all material matters. DEFINITION OF KEY CONCEPTS Materiality and Material matters The report focuses on matters that substantively affect the Bank’s ability to create value to our stakeholders over the short, medium and long term. These matters relate to the economic, social, environmental and financial environment that the Bank operates in. 2 National Bank Integrated Report and Financial Statements 2016 OUR VALUE CREATION PROCESS As a fully diversified financial services provider, we are fully ensure we grow in a responsible way. cognizant that our sustainability is dependent on our ability to assist our clients to fulfill their economic potential by pro- To achieve this, sustainability considerations (social, economic viding financial solutions and creating and preserving wealth and environmental) are fully integrated into day to day in a responsible manner. activities. In this regard, we strive to offer competitive and relevant At National Bank, value is created through our business mod- products and services to individuals, entrepreneurs, corpo- el, which acquires inputs in form of capital - financial, rates and institutions to protect and grow their assets. manufactured, intellectual, human, social and natural capital - and transforms it through our business activities Our Business departments:- Retail, Corporate and Islamic interactions to produce outputs and outcomes for the Bank, Banking, offer a diverse and wide range of specialized prod- its stakeholders, society and the environment as shown in the ucts and services to assist clients with their business and indi- image below: vidual financial requirements, acting in line with our values to INPUTS OUR OUTCOMES VALUE PRODUCTS CREATION OUTPUTS National Bank Integrated Report and Financial Statements 2016 3 OUR VALUE CREATION PROCESS (CONTINUED) INPUTS As a further step towards integrated thinking, we have expanded on how we utilize our six capitals to create value for our stakeholders through our business models. Social and Natural Capital Relationship Capital Human Capital The investment in our employees’ competen-
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