KCB Tanzania Limited, a subsidiary of KCB Group received Sh3.2 billion (20 million Euros) from the European Investment Bank (EIB) to boost its long term capital.
The bank says the funding whose receipts were booked in the third quarter of 2023, helped bridge a funding gap as the lender used the proceeds towards balance sheet expansion. In nine months of operations to September, KCB Tanzania loan book rose by 38 percent to Sh50.6 billion (Tsh836.6 billion), underpinning the bank’s 31 percent asset growth to Sh82.3 billion (Tsh1.3 trillion).
