Uasin Gishu Governor Jackson Mandago has welcomed the decision by Credit Bank to open a new branch in Eldoret.
Speaking during the official unveiling of a new branch, which is situated at KVDA Plaza, Mandago said he is open for more investment opportunities that will be of benefit to the county. He added that such investments will facilitate development of the economy.
Credit bank has recently highlighted its support into enabling entrepreneurship and the growth of trade within the region.
Mandago, however, challenged the lender’s management to consider expanding its footprint in other neighbouring counties that coalesce under the North Rift Economic Bloc.
With the new branch, Credit Bank is targeting farmers and small and medium enterprises (SMEs) sectors.
Bank CEO Betty Korir noted that the lender has been known as an SME-based bank and with it has been recognised as the to go-to bank in enabling SMEs in the country.
“Credit Bank is well positioned to support the SME sector in this country, we have the expertise to advise and support especially those in trade business. Coupled with excellent customer service we believe the bank is on its way to being in the top tiers in the near future,” she said.
“Our focus on supporting the SME sector is beyond financial, we offer technical support through the Entrepreneurs Hub to ensure continuity of these businesses. She ended The financial institution has recently reported their full year 2018 financial results which saw their profit before tax grow by 86% to Ksh 332 million.,” she added.
The bank has been on an upward trend for the past couple of years with the PBT growing exponentially in 2018.
Despite the challenging year for most players in the Banking industry, since the introduction of the interest rate cap regime, Credit Bank continued to attract more customers mostly from the SME sector as they have managed to curate products that suit the SME market in this country.
This in return has led to the expansion on the scope of Credit Bank into the Rift Valley region that has been rated third county in the nation in ease of doing business.
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The decision to open the new KVDA Plaza branch was informed by the fact that the building houses many foreign direct investors thus serving as the heart of the economical developments around the town compared to its current location at Zion Mall.