After recording a post-tax profit of 7.1 Billion shillings, Stanbic bank has attributed the success to its commitment towards ensuring a just transition for clients and the community through capacity building, partnerships and grants for key initiatives in education, health and entrepreneurship.
“We continue to center our strategic priorities on growth drivers that are sustainable and beneficial for our people, clients and the entire environmental ecosystem. Through sustainable financing and strategic partnerships, we continue to implement market specific solutions that drive inclusion, social, economic growth and environmental (SEE) stewardship, “said Stanbic Chief Executive, Joshua Oigara.
Focusing on green financing, the bank has channeled funds towards projects that will have an impact on the economy and future generations aiming to position Kenyan businesses for success while addressing the skills gap in the country by boosting entrepreneurship and employability of citizens.
Stanbic has channeled Ksh 15 Billion towards sustainable infrastructure where Ksh 267 Million was issued in loans towards affordable housing .A total of 25,604 people who underwent screening in 10 counties benefited from the Ksh 5.98 million spent on healthcare initiatives.
Over Ksh 76 Million in grants and catalytic funding was disbursed to over 400 MSME’s (Micro, Small and Medium Enterprises) and Ksh 912 Million will be generated into the economy.
William Khamasi, Stanbic Head of Sustainability said, ‘’ we continue to deploy tools, systems and capabilities to drive sustainability, mitigate risk and create sustainable value for our clients, partners, shareholders and community. Aligned to our purpose to drive growth in Kenya and South Sudan, we are well equipped to contribute to several sustainable development goals (SDG) priorities through funding, capacity building and innovation. Climate change remains a key focus area and we will continue to work with our stakeholders to support green projects and the blue economy,’