This archive report was first published on 15 November 2019.
Published on November 15, 2019, Standard Chartered Bank has injected KSh6.3 billion in both direct and indirect lending to Micro, Small and Medium Enterprises (SMEs) in Kenya over the last nine months.
The bank has supported over 8,000 SMEs in the process, playing a vital role in the sustained growth of the Kenyan economy.
According to Standard Chartered Bank Chief Executive Officer, Mr. Kariuki Ngari, the SME sector is crucial to the country's economic growth, and the bank is committed to supporting the sector and the private sector in general.
Mr. Ngari further stated that the bank has no plans to raise interest rates anytime soon, and existing loans will not be repriced, aligning with the bank's aim to achieve prosperity in commerce.
The bank has also planned to roll out a fully-fledged risk-based pricing model for new loan facilities.
Related articles include a KSh 72 million theft from a Standard Chartered Bank ATM in Nairobi, the bank's half-year net profits increasing to KSh4.7 billion, and a £102.2 million fine imposed by the UK regulator.
