Kenya: PROPARCO injects €24 million in Diamond Trust Bank to boost SME lending

Nov 04, 2014

PROPARCO, a subsidiary of the French Development Agency, has granted Kenyan bank Diamond Trust (DBT) a Sh2.68 billion (€24 million) loan to support lending to small and medium-sized enterprises (SMEs).

PROPARCO, a subsidiary of the French Development Agency, has granted Kenyan bank Diamond Trust (DBT) a Sh2.68 billion (€24 million) loan to support lending to small and medium-sized enterprises (SMEs).

"Through this significant credit line, we will continue to expand our SME offering and customer base," managing director Nasim Devji said, quoted by newspaper The Star.

"We see this loan facility as a key milestone in enabling our customers grow their businesses."

In August, the bank announced it raised Sh3.6 billion from its shareholders to help it grow its asset base, expand
its
branch network and develop new products.

The bank, which focuses on services to small and medium-sized businesses,
also revealed it increased first-half pretax profit by 17 per cent year-on-year, helped by growth in net interest income and fees, Reuters
reports.
It added lending rose 27 per cent to 120 billion shillings.ADNFCR-2976-ID-801758205-ADNFCR