NAIROBI, Kenya, Jun 21 – KCB Group Chief Executive Officer Paul Russo has been elected the new Chairperson of the Kenya Bankers Association (KBA), the umbrella body representing the country’s commercial banks.Russo’s election was announced during the Association’s Annual General Meeting held in Nairobi on Friday. He succeeds NCBA Group Managing Director John Gachora, who has held the position since June 2021.The leadership transition comes as the banking sector intensifies efforts to support Kenya’s economic agenda by expanding access to credit and deepening financial inclusion.“It’s an honour to serve the industry in this capacity. I thank my counterparts for their confidence and reaffirm my commitment to working with all stakeholders to strengthen our industry’s contribution to national development,” said Russo following his election.“I am keen to deepen the ongoing transformation of the industry to serve our customers better, provide affordable and accessible financial services, and effectively catalyze the country’s economic ambitions.”With over two decades of experience in the banking and corporate sectors, Russo has held several senior roles, including Managing Director of National Bank of Kenya, KCB Group Director for Regional Business, and Group HR Director. He has also served in executive positions at Barclays (now Absa), PwC, EABL, and Unga Holdings.Outgoing Chairperson John Gachora was lauded for steering the industry through post-pandemic recovery, overseeing Sh1.7 trillion in loan restructurings, and championing key reforms such as the Kenya Foreign Exchange Code and the revival of the interbank forex market.His tenure also saw banks commit Sh150 billion annually to MSMEs and roll out inclusive policies, including the Persons with Disabilities Accessibility Project.Credit Bank CEO Betty Korir was also re-elected to continue serving as KBA Vice Chairperson.