Nairobi, March 29, 2020: Stanbic Bank Kenya has today announced a loan holiday for SMEs and its personal banking customers to cushion them against the economic disruptions caused by the Coronavirus disease (COVID-19). The loan holiday will be effective 1st of April 2020.
Kenya's private sector economy suffered another difficult month midway through the first quarter of 2020, with February PMI data signalling a second successive drop in business activity and the first fall in new orders for over two years.
Stanbic Holdings Plc weathered a challenging operating environment last year to post a KSh6.4 billion profit after tax (PAT) according to its just released 2019 full year financial results.
Acorn Holdings (Acorn), the largest purpose-built student accommodation property developer in Kenya, has cross-listed its KES 4.3 billion green bond programme, on the International Securities Market (ISM) of the London Stock Exchange. Stanbic Bank Kenya Limited and SBG Securities Limited acted as sole Arrangers and Lead Placing Agents for the Issuance.
Kenyan businesses registered a solid improvement in the health of the private sector in November. A steep increase in new work allowed firms to raise output at a faster pace.
Kenyan private sector companies saw a solid improvement in business conditions in October, as new orders rose at a sharp rate, albeit slightly softer than in September.