Subsidiaries of KCB Group have received the board’s green light to undertake joint lending arrangements in a move that is expected to see East Africa’s largest bank by asset base tap more into dollar-denominated lending opportunities at a time when the region is grappling with the inaccessibility of hard currency.
KCB Group CEO Paul Russo says going forward the group would be better positioned to optimise its dollar holdings, following the reorganisation of its treasury function to depart from the subsidiary-specific design to group-level design, which allows for syndication by at least two subsidiaries if opportunities present themselves for large-ticket dollar-denominated lending.
