32172 - DTBK Tier II

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Summary of Investment Information

Project Number

32172

Company Name

Diamond Trust Bank Kenya Limited

Date SPI Disclosed

Mar 22, 2013

Country

Kenya

Region

Africa

Projected Board Date

Apr 28, 2013

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

May 10, 2025

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : May 30, 2013
Signed : May 31, 2013
Invested : Jul 19, 2013

Sector

Commercial Banking - General

Project Description

The total project cost and proposed IFC investment is $50 million. IFC will provide a financial package consisting of:

- A Subordinated loan of $40 million that qualifies for Tier II capital and to be made available in two tranches; and
- A Risk Sharing Facility of US$ 10 million equivalent.( Project ID 33488).

The above facilities will be utilized to: (i) strengthen Diamond Trust Bank Kenya Limited’s (DTBK) capital base; (ii) help DTBK to expand its lending activities to the SMEs; and (ii) assist DTBK with funding to on lend to the lower end of the SME segment, thereby promoting financial inclusion to the Very Small Enterprises (VSEs), including but not limited to VSEs owned by women entrepreneurs (Project). These two lower-ends of the SME segment are currently underserved in terms of access to finance.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee	10.0
Loan	40.0
Equity

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Quasi-Equity	Loans to SME Borrowers
Guarantee	Loans to SME Borrowers
Quasi-Equity	Loans to SME Borrowers

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

The Project is expected to have a high development impact in the following measurable areas:
1-Increasing credit availability to the SMEs and Very Small Enterprises (VSEs);
2-Supporting job creation through the financing SME and VSEs. The VSEs are a high impact sector, which has low access to finance. Financing this sub-segment helps create opportunities to achieving more balanced growth;
3-Increase access to finance to VSEs, including women businesses, which are currently critically underserved in terms of access to finance;
4. Capacity building to help the bank to service VSEs on a sustainable basis; and
6. Demonstration effect/market transformation through DTBK''s continued lending to the target segment beyond the life of the Project.

The Project is expected to have the following additionality:
1-Providing long-term subordinated debt which is not readily available locally;
2-Providing long term funding that will assist the bank to strengthen its capital base;
3-Offering global expertise in structuring risk-sharing facilities aimed at ramping up lending to more riskier VSEs, while sharing losses and reducing capital requirements.
4-Mobilization of other potential Financial Investors'' funding ; and
5-Provsion of Advisory Services.

E&S Category Rationale / Risks and Mitigation

This Project has been classified as FI-2 according to IFC’s Environmental and Social (E&S) Review Procedure. DTBK provides financial services to SMEs as well as corporate clients across a number of sectors in Kenya, mostly low to medium risk sectors. DTBK also has subsidiaries operating in Burundi, Uganda and Tanzania. The Project is considered to have limited adverse E&S risks and impacts which are largely reversible and can be managed through mitigation measures. The Applicable Performance Requirements for this Project are the IFC Exclusion List, the applicable National Laws in Kenya and in the countries where DTBK’s principal subsidiaries are located, and the Performance Standards.

Task Title & Description	Actual Due Date	Status	Comments	Completion Date
Develop guidelines		Completed
Upgrade Applicable Requirements		Completed
Staff Training		Completed

Contacts

For Inquiries About the Project, Contact

Mrs. Nasim Devji, Managing Director
8th Floor Nation Centre, Kimathi Street,
P.O. Box 61711, City Square 00200
Nairobi, Kenya

Telephone: 254 (020)2849000, 2210988, 2210983/5/6/9
Fax: 254 (020) 245495

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CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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