KCB Group has been named the Best Bank in SME and Sustainable Finance, an award that highlights its continued efforts to support the SME sector and embed sustainable finance practices in its lending decisions.
The twin awards announced by Finance Derivative recognize the bank’s significant role in promoting entrepreneurship through access to affordable credit, business advisory services, and other resources needed to grow and expand while prioritizing sustainability in its operations.
Commenting on this milestone, KCB Group CEO, Paul Russo noted that it is gratifying to note that the bank’s agenda to mainstream SMEs is starting to receive recognition. “We are delighted by these awards as they are a recognition of our commitment to creating a positive impact on the society we serve. We remain committed to supporting SMEs, promoting sustainability, and making a difference in the lives of the people we serve”.
In October 2022, the bank rolled out a Female-Led and Made Enterprise (FLME) program which is a commitment to disburse KShs. 250 billion in 5 years towards unique market segments for businesses owned or run by women. In addition, the bank has integrated sustainability into its operations by adopting 14 Sustainable Development Goals (SDGs), which guide its efforts to develop products and services that support sustainable development.
The CEO of Finance Derivative Mehtab Chisti said, “Sustainable growth and development of SMEs is essential for a thriving economy and institutions need to develop sustainable finance to steer innovative mechanisms that create a better future for generations to come. We recognize the efforts of financial institutions like KCB which is setting the pace for other banks across the East African region in supporting SMEs.”
The Finance Derivative awards recognize exceptional financial institutions that have demonstrated excellence in their respective fields. The winners are chosen based on several criteria, including innovation, sustainability, customer service, and financial performance.