IFC supports Kenyan subsidiary of Nigerian banking group GT Bank
The Washington-based institution is backing the medium-sized bank and strengthening its footprint in Kenya, where it recently financed sector heavyweights KCB, I&M and Equity.
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▪ IFC supports Kenyan subsidiary of Nigerian banking group GT Bank
▪ The Washington-based institution is backing the medium-sized bank and strengthening its footprint in Kenya, where it recently financed sector heavyweights KCB, I&M and Equity.
▪ https://www.africabusinessplus.com/en/810851/ifc-supports-kenyan-subsidiary-of-nigerian-banking-group-gt-bank/
A $15 million loan approved at the end of January for Guaranty Trust Bank (Kenya) Ltd marks a new IFC support to the financial sector in Kenya. The short-term loan is for one year, with the possibility of renewal. This is a welcome resource for GT Bank Kenya, a medium-sized institution. The bank had a balance sheet total of 117.405 billion naira (€250 million) and a net profit of €2.5 million, according to the annual report of its parent company, the Nigerian Guaranty Trust Bank Holding Company PLC.
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IFC reiterated its support for the Kenyan bank, alongside several other lenders.
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