Jamii Bora chief executive officer Samuel Kimani. PHOTO | FILE
Jamii Bora Bank says it is shifting focus to small and medium enterprise (SME) lending, marking a major realignment for a bank that started off as a low-end real-estate financier.
The decision to concentrate on the SME sector comes at a time banks are increasingly eyeing the lucrative segment, with some lenders setting up subsidiaries to tap into the market without radically changing their brands.
Jamii Bora chief executive officer Samuel Kimani said in Nakuru at the weekend that the small-tier lender has introduced two business accounts targeted at SMEs—the Business Bora current and savings accounts.
“The repositioning is informed by the changing banking consumer landscape and will enable the bank to provide flexible, affordable and innovative products and services to this segment,” said Mr Kimani.
The bank has been bullish in the low cost housing market over the years, offering mortgages to the segment of the housing market normally given a wide berth by some of the more established mortgage providers.
PAYE Tax Calculator
Note: The results are not exact but very close to the actual.
