Strategic responses to competition by Barclays Bank of Kenya Limited.

Abstract

The Kenyan banking sector is an important sector in improving the economy of the country. Over the past years, the banking sector has witnessed phenomenal growth in its asset base attributed to the increase in deposits and injection of capital as well as retention of profits by industry players. To maximise on market opportunities, most banks have been flexible and reacted to the market signals .Competition has been very intense leading to most banks employing different strategies in order to remain competitive. The objective of the study was to identify strategic responses of Barclays Bank of Kenya to competition. The study used a case study design which was suitable in situations where questions such as how, why and what are investigated on a certain phenomena to give facts of the situation as it is, without interference by the researcher. Primary data was collected using an interview guide to the Chief Executive Officer (CEO) and the function heads at Barclays bank who totaled to 10. Data collected was then coded to facilitate statistical analysis. The SPSS (Statistical package for social sciences) was used to analyze the data. Data was presented through narratives. From the study, the researcher found that for Barclays bank of Kenya to remain competitive in the market, it adopted some strategies which were offering wide range of products and services, engaging highly skilled staff, automation of business processes, avoiding, use of publicity, outsourcing support, advertisements and also reducing operating staff