KCB Group Chief Executive Officer Paul Russo has been elected the new chairperson of the Kenya Bankers Association (KBA), the umbrella body of the banking industry.   

He succeeds NCBA Group Managing Director, John Gachora, who has served in that position since June 2021.

During the KBA Annual General Meeting held on June 20, 2025, the Governing Council also re-elected Credit Bank CEO, Betty Korir, to continue serving as the association’s vice chairperson.  

“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,” Russo said on his appointment. 

According to the association, the leadership transition comes at a time when the banking industry is placing greater emphasis on its role in supporting economic growth by expanding access to credit for businesses, individuals, and households.   

The new leadership is expected to continue championing this agenda, alongside advancing innovation and financial inclusion.  

“I am keen to deepen the ongoing transformation of the industry to serve our customers better, provide affordable and accessible financial services and effectively catalyse the country’s economic ambitions,” said Russo.

The CEO, a member of the KBA Governing Council, has held other senior roles in banking, among them KCB Group Director Regional Business, KCB Group HR Director, and Managing Director, National Bank of Kenya, among others.   

He has a wealth of experience spanning over 25 years across executive and strategic positions, with his corporate experience coming from leading institutions such as Barclays (Absa), PwC, K-Rep Bank (Sidian), EABL, and Unga Holdings.   

Russo expressed gratitude to his predecessor, Gachora, for commendable leadership during one of the most challenging periods for the banking sector. 

“His steady hand ensured the industry remained resilient and responsive in times of uncertainty,” he added.   

Gachora, according to the association, steered the industry through the post-COVID-19 recovery, advocating for loan restructurings and moratoriums that covered Sh1.7 trillion by the end of 2021.  

He played a leading role in addressing foreign exchange pressures by fostering collaboration between banks and the Central Bank of Kenya, leading to the adoption of the Kenya Foreign Exchange Code and the revival of the interbank forex market.   

Under his leadership, banks committed Sh150 billion in new loans annually to Micro, small and medium enterprises (MSMEs), embraced ambitious sustainability goals, and rolled out the Persons with Disabilities Accessibility Project, which transformed service delivery and led to the broader adoption of inclusion policies across the industry.