Kenyan Listed Banking Sector Quarterly Earnings and Operating Metrics
Recent Developments in the Kenyan Banking Sector....
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Capital Raising: In Q3'2022, listed banks continued to borrow from international institutions to not only strengthen their capital
position but also boost their ability to lend to the perceived riskier Micro Small and Medium Sized Enterprises (MSMEs) segment. In
the period under review, the International Finance Corporation (IFC) disclosed a plan to extend USD 150.0 mn (Kshs 18.0 bn) to KCB
Group in form of a senior unsecured loan in August. The loan facilities to both banks is aimed at supporting the growth of the banks'
climate finance portfolio which entails clients in sectors such as manufacturing, real estate and agriculture. For more information see
our Cytonn Monthly August 2022
Additionally, the International Finance Corporation (IFC) disclosed that it would extend USD 100.0 mn (Kshs 12.2 bn) to Diamond
Trust Bank (DTB) under the WCS COVID-19 FIGE response facility in form of a senior debt investment with 24-month maturity and
renewable once on an aggregate of up to 36 months. For more information, please see our Cytonn Weekly #46/2022
Cytonn
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