African Venture Capital Association 13 March 2013
Amethis Finance has completed its first private equity investment by injecting USD10.5 in Chase Bank, Kenya.
Chase Bank is the fastest growing and one of the most innovative Kenyan banks. It offers a full range of corporate and retail banking products and services, with a well-established strategic positioning on the SMEs segment. Chase Bank has also developed very promising ventures through a licensed deposit taking microfinance subsidiary and an Islamic sharia compliant window. Its financial results are impressive, with a compound annual balance sheet growth of close to 50% over the past five years and strong profitability.
Amethis’ financing will support Chase Bank’s plan to become a leading regional bank, with a focus on the SME consumer segment. Chase Bank’s strategy is to strengthen its position in the SME market in Kenya and develop its retail footprint with the development of regional agencies and new branches.
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