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Loan to Diamond Trust Bank Kenya: Strengthening the bank’s capacity for the benefit of SMEs and companies
Project
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Signature date
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Location
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Kenya
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Financing tool
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Financing amount (Euro)
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22321428.57
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Financing details
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Loan of USD 30 M
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Customer
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DIAMOND TRUST BANK KENYA LTD
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Type of customer
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Company
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Project number
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PKE1089
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Environmental and social ranking
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IF-B
Diamond Trust Bank Kenya is a Kenyan medium-sized bank which is particularly close to SMEs. Proparco’s support will allow it to develop its activity for SMEs and companies which have income in dollars.
Client presentation
Diamond Trust Bank Kenya (DTBK) is a medium-sized Kenyan bank set up in 1945. It is majority-owned by the development institution AKFED. DTBK operates in all the financial intermediation segments: SMEs, its core business, but also large corporates and private customers. The bank has 55 branches in Kenya, including 33 in Nairobi.
Project description
Proparco’s credit line will support the development of Diamond Trust Bank’s activity for SMEs and companies that have incomes in USD.
Project impact
This operation will strengthen local financing capacities in a country where there is a lack of long-term financial resources. It will thereby contribute to the development of the private sector in key economic sectors such as the construction industry, trade, agro-industry, and telecommunications. It will also help improve access to financial services via its network of branches, which will be extended.