CRDB, PTA Bank in strategic partnership

Dr Kimei
CRDB Bank has partnered with Kenya’s PTA bank to enable its clients to achieve their business goals through joint financing programmes, which brings innovative solution to customer needs.

Briefing CRDB’s corporate customers, the Chief Executive Officer, Dr Charles Kimei, said under the partnership the banks have invested in quality and talented manpower to constantly attend to clients business needs.

“We found it useful to join hands with our compatriots from Kenya, PTA Bank in trying to open more doors for you, our customers, in search of new markets and raw materials.

“We have repackaged some of the services like trade finance, premier services, purchase online, SimBanking and internet banking solution tailored to customers’ expectations,” Dr Kimei told the gathering during business breakfast in the city.

The partnership will expose CRDB to 19 countries that are members of the Eastern and Southern African Trade and Development Bank (PTA). The bloc is the second largest Direct Foreign Investment (DFI) by geographical coverage in Africa.

PTA Bank key lending terms are loan amount not exceeding 25 million US dollars   (about 40bn/-) but not less than 500,000 US dollars (about 800m/-) with tenures ranging from one to 15 years depending on the type of loans.

Repay tenure for trade finance takes up to three years, project finance up to ten years and infrastructure takes up to 15 years.

The breakfast forum geared at to expose CRDB’s corporate customers to these lending facilities, on trade finance namely import and exports through guarantee and bonds, pre and post shipment finance.

On project and infrastructure PTA offers leasing, equities, medium term senior debt and syndications and co-financing.

CRDB in 2011, made a strong pre-tax profit of  51bn/- (USD 31.8million) and its deposits stand at 2.4trn/- (USD 1.5 billion) while loans portfolio grew to 1.4trn/- (USD 875million).   

PTA Bank, that was established under the COMESA charter in 1985, profitability rose from 20 million US dollars (about 32bn/-) to 34 million US dollars (about 54.4bn/-) in last year.

Comesa member countries are Burundi, China, Comoro, Djibouti, DRC, Egypt, Eritrea, Ethiopia, Kenya, Malawi, Mauritius, Rwanda, Seychelles, Somalia, Sudan, Uganda, Zambia and Zimbabwe.
Source: The Daily News, 
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