REMARKS BY HON. UHURU KENYATTA,E.G.H., M.P.,DEPUTY PRIME MINISTER ANDMINISTER FOR FINANCE DURING THEINAUGURATION OF THE NEW STANDARDCHARTERED BANK KENYA, HEAD OFFICE,CHIROMO ROAD, WESTLANDS, NAIROBI ONMONDAY JUNE 20, 2011, AT 12.00 P.M.
Your Excellency, Hon. Mwai Kibaki, The President and Commander-in-Chiefof the Kenya Defence Forces;Mr. John Peace, Group Chairman, Standard Chartered Group;Mr. Peter Sands, Group Chief Executive Officer, Standard Chartered Group;Mr. Richard Etemesi, Chief Executive Officer, Standard Chartered BankKenya Limited;Professor Njuguna Ndungu, Governor of the Central Bank of Kenya;Distinguished Guests;Ladies and Gentlemen:
allow me to first and foremost take this opportunity tothank you for accepting to grace this important occasion for StandardChartered Bank Kenya Limited. It is, indeed, a great honour and privilege tohave you as our chief guest. On
behalf of all of us here, I would like toexpress our sincere gratitude to you for finding time out of your busyschedule to be with us.
my task here today, is very brief. It is to invite you toaddress this distinguished gathering and officially inaugurate the
for the East African Region for Standard Chartered Bank Limited. But before, I invite you, Sir allow me to make a few remarks.3.
will recall the serious challenges the global economywent through during 2008-2009, triggered by the crisis in the banking sector ofthe industrial western countries. I am pleased to report Kenya was saved fromthe first round effects of the global financial crisis because our banking sectorwas and has continued to be stable. All indicators of financial soundness pointto a strong and stable banking sector. Indeed, the
undertakenunder a variety of scenarios show that our banks would remain solvent in theevent of a reasonably major shock.