What is a Business Bank?
A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit.
Best Business Bank In Kenya
ABSA Bank Kenya
Since its rebranding from Barclays Bank, Absa Bank Kenya seems to have shifted its focus more on having products that support small and medium businesses in Kenya. Initially, the lender was deemed to be only for the “corporates and affluent” Kenyans. Not anymore.
The lender has accounts such as Absa One Business Account, Business Club Account, and SHE Business Account, among others all with features that support small businesses.
They have Business Loans where they offer start-ups and established business owners loans at attractive interest rates to open up doors of opportunity and we also host a financial forum where you will gain insights and grow your business network.
Equity Bank has always been known as the bank for “small people”, meaning anyone can bank with them (though anyone can bank with any bank in Kenya.) For SMEs, the ban has a Micro Business Loan product targeting the youth, who comprise the majority of the population, seeking to empower them with the tools and resources they need to create and grow businesses.
At the same time, the bank offers EazzyChama, which is an online platform that allows group and Chama account holders to manage their joint activities while maintaining transparency and accessibility among all participants.
KCB Group is among the banks that have been instrumental in helping SMEs across the country. The lender has a line of SME products in terms of loans and accounts that are tailored towards making SMEs across the country better.
For SMEs who bank with the lender, KCB Bank has Telco Dealer Agent Loans, Overdraft Facilities, SME Term Loans, and KCB MSME Loans among others.
Family Bank is usually a silent lender but with some great products. When it comes to walking with SMEs, the lender beats some established giants.
The bank has a product known as “Business Club.” The purpose of the Family Bank Business Club is to provide an environment that brings SME business people together, giving them an opportunity to network, share experiences, and learn new innovative ways that would help reduce costs and lead to business growth.
Which is the strongest bank in Kenya?
Equity Group, East and Central Africa’s largest financial institution, has enhanced its position as one of the strongest banking brands globally by scoring highly, in the 2023 Brand Finance’s Brand Strength and Brand Value rankings.
Which is the safest bank in Kenya?
NAIROBI, Kenya, October 8 –KCB Group has received two global accolades, cementing its leadership position in driving excellent customer service and supporting East Africa’s economic agenda.