Sidian Bank receives Sh1.2bn capital boost from Danish fund

Sidian Bank has received $12 million (Sh1.2 billion) tier II capital injection from a Danish development finance institution (DFI) to firm up its regulatory capital ratios and support lending.

The fresh capital from the Investment Fund for Developing Countries (IFU) will be used to grow SME loan book, trade finance portfolio and mobile lending, according to Sidian bank chairman James Mworia.

“This is a major vote of confidence in Sidian Bank and its strategic initiatives by an institutional investor with significant investments in financial services companies across the globe,” said Mr Mworia. Read More; bit.ly/2EHgLu7