DTB Reports Increase in SME Lending as Economy Recovers


  Diamond Trust Bank (DTB) Kenya has announced that lending to small and medium-sized enterprises (SMEs) is increasing, supported by a recovering economy, decreasing inflation, and lower interest rates.

  Click here to connect with us on WhatsApp DTB Chief Executive Officer Murali Natarajan praised the government and the Central Bank of Kenya (CBK) for stabilizing the shilling and enhancing credit conditions, which he indicated are already leading to improved business performance. "I believe the Government and the Central Bank have performed exceptionally well compared to the situation in the middle of last year and what we see today. There has been a significant transformation regarding the reduction of interest rates," stated Natarajan during the bank’s Economic and Sustainability Forum. He observed that credit uptake has transitioned from negative growth to positive growth in recent months, indicating a resurgence in business confidence. "DTB is dedicated to business banking, especially for SMEs and micro-SMEs. Over the past year, we have made significant changes in our business and retail banking strategies, and we are expanding our workforce. Unless unforeseen circumstances arise, we anticipate being able to double our balance sheet within three to four years," he added. Trade and Industry Cabinet Secretary Lee Kinyanjui encouraged banks to take a more active role in fostering Kenya’s economic growth by supporting businesses looking to expand under the African Continental Free Trade Area (AfCFTA). "With AfCFTA, Kenya can leverage its robust manufacturing sector to export products to a potential market of 1.4 billion people across the continent," remarked Kinyanjui. He also emphasized the need for increased financing to unlock Kenya’s potential in exports, manufacturing, and tourism while reducing political risks that hinder investment. "If we can eliminate political risk, Kenya can fulfill its rightful role. We possess the talent, land, and climate — nearly everything we could desire — except for the political risk," he pointed out.

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