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StanChart lures SMEs with unsecured loans

Visa country manager Victor Ndlovu (left) with Standard Chartered Bank Kenya’s head of retail banking David Idoru during the unveiling of the 360° Rewards scheme in Nairobi yesterday. PHOTO | DIANA NGILA | NMG

By  CONSTANT MUNDA

Correspondent

Standard Chartered Kenya #ticker:SCBK says it will use automated analysis to advance unsecured loans to households and SMEs, which most Kenyan banks have shunned since the onset of interest rate controls, citing their perceived high-risk levels.

StanChart head of retail banking David Idoru said yesterday the country’s fifth-largest lender by market share would track and analyse borrowers’ transactions dating back to 10 years, helping lock out those who do not meet its credit risk threshold.

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