I&M Bank chief executive Kihara Maina said the new service will be manned by highly experienced banking Executives, proficient in the local and German banking regulations and language.
In the local banking scene, institutional banking and sovereign nations banking desks are gaining popularity as key business drivers.
Several local banks have established China Banking desks providing solutions to Chinese concerns operating in this market.
I&M Bank #ticker:I&M has announced plans to set up a dedicated German desk at its key branches in efforts to boost trade between Kenya and Germany.
The German desk to be established in Nairobi, Mombasa and Kigali will offer a one-stop shop in provision of all banking services and financing needs of companies engaged in German-Kenyan business activities.
I&M Bank chief executive Kihara Maina said the new service will be manned by highly experienced banking executives, proficient in the local and German banking regulations and language.
“At I&M Bank, our clients from Germany will enjoy a seamless, home away from home banking and finance experience,” he said during signing of the deal in an event attended by Industry, Trade and Co-operatives Secretary Adan Mohamed.
Mr Kihara said the bank will leverage on its geographical spread, branch network and customer base to provide a credible channel for exchange of German and Kenyan goods and services.
Among banking services that will be offered at the desk include banking account, provision of short to medium facilities, trade finance and transaction banking services.
The German desk will be established in partnership with DEG - Deutsche Investitions (the German Development Finance Institution) and the Delegation of German Industry and Commerce I&M Bank.
"Through this new cooperation German companies can get financial services from a single source and make direct use of the partners' network on location," said Christiane Laibach, member of DEG's Management Board.
In the local banking scene, institutional banking and sovereign nations banking desks are gaining popularity as key business drivers.
Several local banks have established China Banking desks providing solutions to Chinese concerns operating in this market.
