THE PEOPLE’S Own Savings Bank (POSB) has lauded its recently retired chief executive officer Admore Kandlela for turning a mere postal savings bank into a fully-fledged bank with a 32-branch network.
Kandlela joined the POSB in 2003 with a mandate to spearhead its commercialisation.
“We celebrate an esteemed and seasoned banker, one whose leadership journey at POSB is well-decorated as he leaves on a very sound and commendable note.
“He took over the reins of a postal savings bank that the government had planned for commercialisation,” said POSB chairperson Israel Ndlovu
According to Ndlovu, Kandlela oversaw the restructuring of POSB to increase its functional efficiency.
“He led the introduction of the various products of the bank such as salary-based loans, SMEs lending, treasury, corporate and international banking, micro finance and mortgage banking.
“Through his leadership, the bank has been able to rebuild, reinvent, strengthen and modernise its products, processes and services,” he said.
Ndlovu, however, regretted Kandlela’s departure from POSB before the completion of the bank’s partial privatisation programme.
“Kandlela played a key role in the bank’s partial privatisation process, a project that is yet to be concluded.
“We would like to assure that the POSB board and management will try their best to keep the partial privatisation of the bank,” said the POSB chairperson.