KCB which is the largest Bank by assets and branch network in East Africa targets to increase its SME customer base to 100,000 accounts representing a 30 percent rise from the 2010 figures.
Through an SME campaign dubbed 'unlocking your Business potential', KCB announced last week it hopes to achieve a lending portfolio of Ksh 15 billion (US$ 18.5 million) to the sector, up from Kshs 9.6 (US$11.8million) in 2010.
This would be in addition to increasing its SME deposit book to Ksh 30 billion (US$ 370 million) by introducing what it termed innovative and unique products and services geared towards bridging the gap in the SME market.
"Today we have in excess of Ksh 18 billion (US$ 22.2 million) in deposits entrusted to us by our existing SME customer base. This together with the Ksh 12.5 billion (US$ 15.4 million) capital raised in the successful rights issue last year, puts KCB in a highly liquid position to lend favorably to the sector", said Peter Munyiri the deputy CEO in charge group business.
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