Absa Bank Kenya PLC has launched its custody services business, a major expansion of its corporate banking offerings. This move is designed to serve the growing needs of fund managers, pension schemes, insurance companies and institutional investors across the region.

What Are Custody Services?

Custody services involve the safekeeping and administration of financial assets on behalf of institutional clients. Absa’s new offering includes:

  • Asset safekeeping

  • Settlement of local and cross-border investments

  • Compliance and regulatory reporting

  • Corporate actions

  • Portfolio reconciliations

These services are critical for institutions with large investment portfolios, ensuring security, efficiency and transparency in financial operations.

Supporting Clients’ Growth Through Innovation

Speaking at a stakeholder forum in Nairobi, James Agin, Managing Executive of Absa Corporate and Investment Banking, said:

“Custody services are becoming a key pillar in our corporate banking offering. We are investing in our customers’ stories and delivering bespoke solutions that support their growth.”

By launching custody services, Absa is providing end-to-end investment support so clients can focus more on portfolio growth and less on operational complexity.

Strategic Global Partnerships and Digital Asset Readiness

Absa Bank is partnering with some of the world’s leading global custodians:

  • BNY Mellon

  • State Street

  • Société Générale

These partnerships mean Absa’s custody platform is globally aligned, offering high quality service and access to international markets.

The bank is also aligning with Kenya’s Virtual Assets Policy and the VASP Bill, positioning itself to offer custody for digital assets – a clear indication of its forward thinking in a rapidly changing financial landscape.

Regional Rollout Underway

While custody services are already available in South Africa and Mauritius, Absa has confirmed plans to roll out to Uganda and Ghana this year.

This regional rollout is part of Absa’s ambition to be a leading custodian bank in Africa, offering secure, efficient and compliant solutions for the continent’s growing investment market.