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Monday to Friday - 09:30am to 4:30pm

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Prime Bank Partners With PROPARCO

PROPARCO

Prime Bank is pleased to announce that PROPARCO, the French Development Financial Institution (DFI), has extended the Bank credit facility of USD 15m (Kshs. 1.33 billion) to support long term funding to its clientele.

The facility will enhance Prime Bank’s capacity to grant long term lending in both local and foreign currency . Created in 1977, PROPARCO is partly held by the Agence Française de Développement (AFD) and private shareholders from the North and South. Its mission is to catalyze private investment in emerging and developing countries with the aim of supporting growth, sustainable development and the achievement of the Millennium Development Goals (MDGs). PROPARCO has a high level of requirements in terms of social and environmental responsibility.

PROPARCO

This partnership will foster long term investment, a driver to economic growth and employment. Prime Bank is a fast growing Medium size Kenyan Bank with an asset base of over Kshs. 54 Billion and a network of 17 branches across the country. It has also expanded regionally by shareholding in First Merchant Bank, Malawi, Capital Bank , Botswana and First Capital Bank in Mozambique and Zambia.

Prime Bank staff underwent a three day fire marshal statutory training that took place in February 2015.

Fire Training

The training was not only part of Government requirement in every work place, but also aimed to make the bank a safer working environment.

Fire Training

The participants of the training were taken through a fire safety drill, relevant precautionary measures as well as fire fighting skills.

Fire Training

The training was conducted by Mr. Charles Agolla.

Congratulations to the 35 new Fire Marshals at Prime Bank.

From left, Peter Kabi, Chief Manager Accounts ; Edward Burbidge, Managing Director Burbidge Capital; Bharat Jani, Managing Director ; Paras Shah, Coulson Harney; Vijay Kantaria, Director Business Development during the signing of the private placement at Prime Bank headquarters on Riverside Drive.

Prime Partnerships Prime Partnerships

Prime Bank has raised Sh1 billion ($10 million) through private placement to help it expand its loan book for lending to Small and Medium Enterprises in Kenya.

Burbidge Capital acted as the arranger & placing agent and Coulson Harney as the legal advisors.

During the signing, Managing Director Mr. Bharat Jani said the Bank raised USD10 million issued through a private placement of 5.5 year USD denominated notes representing a 100% subscription rate.

“The 5.5 -year bond will be raised in tranches with the proceeds going expansion and strengthening the bank’s capital base,” he added.

Mr.Jani added that the bank plans to use the funds to support its future expansion plans.