Stanbic Holdings PLC’s flagship inclusion programme, Dare to Aspire Dare to Achieve (DADA) platform has dished out loans amounting to Ksh 8.4 Billion in the first half of 2023.
The Bank committed KES 20 billion to finance women in a bid to support SMEs, particularly low-income housing projects and women-owned firms.
Since its launch 3 years ago, the platform has attracted more than 63,000 new ‘Dadas’ and disbursed loans amounting to KES 8.4b in the first half of 2023.
Stanbic Bank strengthened its retail banking business by refocusing attention on financing SMEs and youth to reduce overreliance on stockbroking and bancassurance.
This comes after shareholders and investment experts expressed worry about the lender’s increasing pressure on net interest margins and sought a strategic strategy to expand its retail franchise, client base, and total revenues.
Standard Chartered Bank (Kenya) stated in its annual report that one of its goals for 2025 is to be among the top retail banks in the area by expanding its mass presence.’
According to the report, the middle segments, defined as those earning between $6,000 and $36,000 per year, would account for 70% of the expansion in Africa’s retail banking revenue pools through 2025.
