Postbank eyes credit market in last quarter of 2016

Tuesday March 15 2016

Jamii Bora Bank chief executive Samuel Kimani (left) with Postbank acting managing director Anne Karanja during the signing of an agency banking agreement on July 22, 2014. Photo/Diana Ngila

Postbank acting managing director Anne Karanja with Jamii Bora Bank chief executive Samuel Kimani in this file picture. PHOTO/DIANA NGILA 

By BRIAN NGUGI
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Postbank is now eyeing the last quarter of 2016 to start issuing loans.

Postbank acting managing director Anne Karanja said Tuesday the institution is in the process of preparing its human capital to back its lending operations planned for the last quarter of this year.

“We anticipate to start giving loans before end year. We have significantly prepared to go into the credit market,” Mrs Karanja said.

She disclosed that talks between Treasury and CBK were at their tail end to pave way for regulatory approvals for credit services.

The government owned institution has for long sought regulatory approvals to turn its operations into a commercial banking model.

Postbank currently operates a savings service with no lending or current account products.

Mrs Karanja spoke Tuesday when Postbank unveiled its new chip-enabled credit cards (also known as EMV cards).

“The new Visa card will provide our customers with access to cash at all Visa branded ATMS locally and internationally,” said Ms Karanja.