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Caritas Microfinance Bank joins Kenya Bankers Association

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Straps: With that, the total number of members in the association has reached to 47 banks

Caritas Microfinance Bank has recently joined the Kenya Bankers Association, media reports said. With that, the total number of members in the association has reached to 47 banks. It is an umbrella organisation and a lead advocacy group for the financial sector. The association represents total assets worth more than $48 billion.

It is reported that Caritas was established as a deposit taking microfinance institution in 2015. It is licenced and regulated by the Central Bank of Kenya. KBA CEO Dr. Habil Olaka, told the media, “KBA is delighted to have Caritas join the Association and we are confident the bank will contribute to our long-term vision of reinforcing the industry’s role in advancing Kenya’s sustainable economic development. We are honoured to have a purpose driven institution like Caritas help inform and champion our activities.” 

Caritas has established itself as a leading microfinance bank offering a host of services including current and savings accounts, term loans and asset finance, LPO finance and foreign exchange solutions. The bank headquartered in Nairobi operates six branches and comprises 60 banking agents across the country. Caritas Chief Executive Officer Mr. Titus Muchiri, told the media, “We are pleased to be joining the Kenya Bankers Association, an organisation that has championed industry development since 1962.”

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