This archive report was first published on 8 March 2020.
On March 8, 2020, NCBA Bank signed a strategic partnership with property firm Optiven to grow its property finance business.
The agreement will enable NCBA customers to buy their desired plot of land and build a residential or commercial unit, with the bank offering financing of up to 25 years.
NCBA Deputy Director, Consumer Banking Mercy Kagwiria said the partnership will enable its customers to access property financing solutions in a seamless manner.
"Our property financing offers tailor-made services that meet unique requirements of our customers," she said. "The bank's customers will benefit from value-added services and unmatched offers from the bank's ever-expanding list of service providers and vendors."
Ms Kagwiria noted that the lifting of the interest rate caps has prompted renewed interest by investors in the property market, with the bank projecting the sector to record growth of at least 15 per cent in 2020.
Optiven Group Chief Executive George Wachiuri said the deal will enable NCBA customers to access value-added plots for residential settlement, commercial purposes, and future capital gains.
"NCBA customers will access our value-added plots that eventually become part of a gated community. Buyers will have the option of building their own home or contracting Optiven Construction, a subsidiary of the company, to build for them," he said.
