Please ensure Javascript is enabled for purposes of website accessibility Sustainable Financing: Impacting You Where it Matters Most - Credit Bank PLC

Updates:

Be the First to get refreshing services here at iKonnect hub

More Details

Our Contribution to Sustainable Finance in Kenya, was recently recognised by Kenya Association of Manufacturers (KAM), during the Energy Management Awards. This recognition is a testament to our mission; ensuring social-economic impact through provision of financial solutions. To understand sustainable finance better, we need to break it down to five sections.

Economic. National Economic Survey report by the Central Bank of Kenya (CBK) in 2018 indicated that SMEs constitute 98 percent of all business in Kenya, create 30 percent of the jobs annually as well as contribute 3 percent of the GDP. In recognition of the significant role SMEs play, at Credit Bank, we have positioned to serve this segment with specifically designed products and services that meet the unique needs of our customers in various sectors including manufacturing, agriculture, services and trade. Further, due to the fact that many SMEs (e.g. 400,000 KNBS 2017) collapse within first three years of inception, we have partnered with various organizations that provide technical expertise to our SMEs to ensure financial instruments by the bank are provided in tandem with technical assistance thus increasing chances of success and contributing to their business longevity and sustainability.

In addition, part of our portfolio includes climate smart financial solutions tailored towards water harvesting, solar energy and biofuel technology. For example, are currently financing 11 projects valued at between $15-30 million in the renewable energy sector. To ensure value of the projects, we work with companies ensuring transfer of technical skills to locals.

Technology. This has aided us at Credit Bank to enhance our service delivery. Physical presence is no longer a necessity to ensure financial solutions are widespread. As a Bank, we continually invest in innovative technological solutions to enable distribution of our financial solutions efficiently. Up to 80% of our customers access our alternative digital channels for services. These channels include Mobile Banking Application, Internet Banking and Agency Banking. Further, as our customer, you can initiate a credit application online increasing convenience and eliminating extensive paper use. Our award-winning customer service is also a testament to the use of technology as customers challenges can be resolved simply via call, email or social platforms.

Partnerships. We strongly believe in working together and the right collaborative partnerships can yield great synergy. Partnerships further provide a greater resource base and provide avenues for our partners to distribute impactful financial solutions. We have, for example, engaged with Kenya Industrial and Research Institute (KIRDI) and Clean Cookstoves Association of Kenya (CCAK) to explore green energy solutions and financing to CCAK’s members.

Another partnership we have towards creating sustainable finance is with Camco Clean Energy supported by European Investment Bank to provide training on green energy finance and currently in discussion with Stawi Africa to partner in sustainable agriculture financing. African Guarantee Fund (AGF), another partner, provides capacity building of Credit Bank staff.

Risk Management. It is prudent as a Bank that risk management goes beyond traditional credit risk processes. Frameworks we use ensure risk is further assessed on environmental and social impact. The process begins identifying potential risks of the projects we finance followed by a thorough assessment of the identified risks. It is important for the customer to also showcase how they intend to mitigate the potential risks of the project. From the environmental aspect, we ensure projects we finance do not harm the environment. We further have mechanisms in place to monitor the risk profile both before and after approval of the financing.

Energy Resource Management. Part of sustainable finance includes efficient use of (energy) resources as an institution. Energy efficiency is a theme that must be carried by companies operating today. At Credit Bank, emphasis on this is no less than any other resource. It is our policy to our staff to switch off all lights and further idle power gadgets when they leave the office. Our branch locations ensure large windows fitting for natural light and ventilation. Through the board of directors, staff members are sensitized on energy management through enforcement of set policies, through advocacy and frequent trainings.

Governance. Effective leadership demands being led by example. Compliance starts from the top through implementing standards and procedures that can be grasped by everyone in the Bank. Further, we implement these policies in our financial solutions ensuring sustainability. A good example is our financing to construction activities. Before approval, we require an Environmental & Social Management Systems (ESMS) in place during and after construction. Our governance structure ensures further compliance to set laws and regulations on matters environment. The board of directors has in place an Environmental and Social Sustainability Policy that further complements the law.

Credit Bank is committed to Sustainable Finance as this gives us a long-term view of our financial activities. We are not just concerned about the bottom line but financing that impacts. Discover the friend you can bank on.

admin

Leave A Comment

More Options

Empowering you to grow takes a special place at the heart of our operations. elev8HER is designed just for you and offers more than just financial solutions. We seek to be the friend you can bank on for your growth. Join elev8HER today and get exclusive access to:

  • ~elev8HER Community – a chance to market your business to others
  • ~elev8HER Health – activities such as walks, free check-ups and more
  • ~elev8HER Newsletter – with business insights and features a client each month
  • ~elev8HER Visa Debit Card – a card just for you
  • ~elev8HER Site – this comes with learning modules and expert opinions on various matters
  • ~elev8HER Café – features business moguls to learn engage and prosper

 

Insurance Options

HER Car Insurance

 

With elev8HER, we have curated our motor vehicle insurance options just for you. We have the following options:

  • ~HER Private Motor Vehicle Cover – this covers all vehicles used for personal, social and pleasure purposes.
  • ~HER Commercial Vehicles – this cover is for all vehicles used in the line of doing business.

This insurance cover indemnifies you in respect of accidental damage including collision, fire, theft of the vehicle and third party liabilities.

 

HER Business Insurance

 

This is a comprehensive insurance that covers your property against any accidental and unforeseen loss or damage. It offers a wide range of unique benefits depending on your needs. The following policies are available under this class among others:

  • ~Fire and Allied Perils (Burning flame, explosion, impact, flood, malicious Damage)
  • ~Burglary policy including holdup
  • ~Cash in transit/Goods in transit
  • ~Home Insurance (Domestic Package) – Sections A,B,C,D, E & F
  • ~All risks
  • ~Fidelity Guarantee policy
  • ~CAR
  • ~WIBA

 

HER Health Cover

 

This cover is suitable for you and your employees. You can now have peace of mind together with your employees with our medical cover. Credit Afya Health product is designed for both individuals and SMEs and offers the following:

  • ~Inpatient and outpatient cover
  • ~Various memberships for free – Mums Club, Senior Club, Maisha Fit among others
  • ~Terms and condition will vary for different clients and different requirement.

 

HER Travel Insurance

 

Travelling the world? This cover is for you if you are travelling for leisure or business and offers you the following:

  • ~Emergency Medical and related expenses
  • ~Loss of Baggage
  • ~Travel inconveniences
  • ~Personal accident

The cost of this cover is normally dependent on number of days of travel, country of destination, country of destination, your age and type of visit.

eHub

eHub is a platform designed to enable your small and medium sized enterprise (SMEs) scale and become competitive across industries. eHub provides a platform for you to network, learn and do business. Non-financial service package include access to e-hub for free/discounted rates:

  • ~Access to eHub Accelerator programs
  • ~Access to eHub Circles
  • ~Access to eHub Mentors
  • ~Access to eHub Masterclass
  • ~Access to eHub One on one coaching sessions
  • ~Women Café – monthly talks on pertinent issues affecting women in business and women in general

Learn more here.

 

Financing Options

HER Business Loan

If you have run a small and growing enterprise for at least three years, this term loan is designed to meet your financing needs.

What You Get
  • ~Access loan value of up to KES 10 million
  • ~Preferential interest rate
  • ~Last two months interest rebate upon full redemption of loan and consistent repayment with no incidence of arrears.
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free

 

HER Start-Off Loan

 

If you have run a micro and small enterprise between one and three years, this term loan is designed to meet your financing needs.

 

What You Get

 

  • ~Access loan value of up to KES 3 million
  • ~Preferential interest rate
  • ~An unsecured option is available
  • ~Last two months interest rebate upon full redemption of loan and consistent repayment with no incidence of arrears.
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free

 

HER Trade Loan

 

Sometimes cashflows are tight. This solution is meant to ease your cash operations in the short term. Access this financing with your LPO/LSO contracts. Open an elev8HER account for business transactions to build your business banking record.

 

What You Get

 

  • ~Get up to 70% cash value on your LSO/LPO contracts
  • ~If you have an invoice yet to be paid, our Invoice Discounting offers up to 70% cash value
  • ~Access training and coaching through eHub and other non-financial services .
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free as above

 

Her Digital Loan (Women Pre-Approved Cash Loan)

 

Need quick cash? CB Konnect, our mobile banking app, gives you access to quick loans based on your transaction history with no security required.

 

What You Get

 

  • ~No collateral required
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free as above
Account Options

HER Personal Account features:

  • ~No Monthly Charges 
  • ~Minimum operating balance Kshs. 2000
  • ~Charges via Digital Channels apply

HER Business Account features:

  • ~Get unlimited access for a flat monthly fee of KES 500
  • ~No charges for Cheque Book

  • ~Access to a Visa Debit Card*

  • ~No minimum or operating balance
  • ~Charges via Digital Channels apply