Standard Chartered Bank Lends KSh6.3 Billion to SMEs Over Nine Months

Standard Chartered Bank has injected Ksh 6.3 billion in both direct and indirect lending to Micro, small and medium enterprises in the last 9 months to September 2019.

The bank has supported over 8,000 SMEs in the process.

Standard Chartered Bank Chief Executive Officer, Mr Kariuki Ngari stated that the SME sector plays a vital role in the sustained growth of the Kenyan Economy and they are happy to restate their support to the SME and private sector in general.

He further stated that they will not be raising their interest rates anytime soon. Existing loans will also not be repriced. This is in line with the Bank’s aim to achieve prosperity in Commerce.

The bank has plans of rolling out a fully-fledged risk-based pricing model for new loan facilities.

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