The financial institution, with over 37 years of banking experience, says the move aligns with the bank’s vision of amplifying its market presence and invite a broader spectrum of investors.
“This pivotal step of listing on the NSE will usher in a fresh investment avenue for the public and deepen our engagement with the community and collaborators. Our commitment to core principles of integrity, accountability, and customer-centrism underscores this decision,” Grace Nyachae the bank’s long-serving Director says.
With the listing, the lender hopes to tap into a wider investor demographic, shore up capital and enhance the bank’s visibility as a market leader with grand ambitions to rise to a top-tier institution.
It is also part of it plan to grow from a tier 3 to a tier 2 bank, solidifying its long-term stability.
Credit Bank listing further reinforces the bank’s dedication to upholding exemplary corporate governance and transparent financial conduct.
“Our forthcoming listing signifies more than just our growth trajectory; it emphasizes our unwavering commitment to operate with the pinnacle of transparency and integrity,” added Nyachae.
Credit Bank is strategically positioning itself for growth by firming up its capital base to cover risk and increase its capacity to lend in this tough macroeconomic environment.
The bank recently onboarded Mauritius-based private equity fund, Shorecap III, LP, for a minority 20 per cent stake boosting its capital and emphasizing its growth and adaptability.
The Bank has set in motion elaborate preparations for the listing to ensure success in tapping a wide range of shareholders seeking an exciting opportunity to take the bank to the next level, including involving multiple deliberations with regulatory authorities to ensure a smooth transaction.
“We’re elated to meet the standards for listing in the NSE’s main investment segment,” said Nyachae.
“From Kshs 1.4 billion shareholder equity in 2015, we’ve surged to Kshs four billion this year. Post-listing, our objective is to mobilize an additional Kshs one billion.”
Besides raising capital, the listing is set to boost the value of the lender’s stockholdings rewarding its shareholders and optimizing share price.
Nyachae has also pledged to extend ownership to the bank staff through an impending employee share ownership programme, intended to empower staff to be stakeholders in the bank.
Credit Bank’s strategic intent to list on the NSE symbolizes its unwavering commitment to enhanced transparency, increased inclusivity, and a sustainable growth blueprint.
