The bank named Minudi Lore as its finance director, a position that has been vacant since July when Joseph Mutugu quit.
READ: Third executive at
The bank also announced that it has increased its stake in NIC Bank Tanzania to 68.97 per cent from 51 per cent after buying additional shares following a Sh451 million (Tsh8.5 billion) rights issue.
"NIC Bank Tanzania undertook a very successful rights issue of Tsh8.5 billion, which saw the parent company increase its' shareholding to 68.97 per cent," said the bank in a statement indicating that the Kenyan unit injected Sh308 million (Tsh5.8 billion).
"The board and management of
Since last January, NIC has made six top executive appointments for a lender that has had minimal changes over the past five years, including on its board.
It tapped Margaret Kimuma in November as executive director in charge of credit risk while John Gachora became CEO in September following the appointment of
The latest appointments have increased the number of women in the bank's top management that was hitherto a male-dominated executive suite.
Ms Kimani-Gichuru, who was previously the strategic manager at Coca-Cola's sub-Saharan business ,joins Ms Kimuma among NIC's top managers.
Its board, which is closely watched by the family of the late
The Ndegwas entered
NIC profit rose 17.6 per cent to Sh2.81 billion in the nine months to September and its share at the
Funds raised from
The subsidiary accounted for about 3.5 per cent of
In 2012, NIC raised Sh2 billion in a rights issue, with part of the capital being used to start new operations in
Most Popular Stories
- Obama, Ukraine Discuss Russian Incursion in Crimea
- Chinese May Have Spotted Malaysia Airlines Debris
- Social Media Causee Sleep Deprivation in Students
- First-time Jobless Claims Drop Unexpectedly
- Banks Buying Little From Minority Firms: Study
- General Electric Plans IPO of Credit Card Unit
- First-time U.S. Jobless Claims Hit 3-month Low
- U.S. Business Inventories Up, Retail Sales Down
- SXSW Crash Kills 2, Injures 23
- 'Candy Crush' Maker Files IPO