MICROCAPITAL BRIEF: responsAbility Social Investments Increases Chase Bank of Kenya Debt Exposure to $15m

In June 2013, responsAbility Social Investments, a Switzerland-based social investment company, indicated to MicroCapital that it has increased its senior debt exposure to Chase Bank of Kenya, a privately-owned bank that focuses on the small and medium-sized enterprise (SME) market. The senior debt exposure has been increased from USD 10.5 million to USD 15 million [1].

In June 2013, responsAbility reported assets of approximately USD 1.3 billion. Chase Bank of Kenya has assets totaling USD 391 million as of June 2013.

By Anesa Kratovac, Research Associate

About responsAbility Social Investments AG

Founded in 2003, responsAbility Social Investments AG is a Swiss investment company whose products aim to enable investors to earn a financial return while assisting people in emerging markets to access information and markets in sectors such as microfinance, small and medium-sized enterprise (SME) financing, fair trade and independent media. As of June 2013, responsAbility reported total assets under management of approximately USD 1.4 billion. responsAbility is backed by Swiss financial institutions and a social venture capital company as founders and shareholders including Baumann & Cie, Banquiers, Credit Suisse, Raiffeisen Schweiz, Swiss Re, Bank Vontobel AG as well as George Avenue.

About Chase Bank of Kenya

Chase Bank is a privately owned bank that was incorporated in Kenya in 1996. Chase Bank focuses on the small and medium-sized enterprise (SME) market and reaches out to the lower segment market through a microfinance institution, Rafiki DTM which it wholly owns. Rafiki Deposit Taking Microfinance (Rafiki DTM) is a Kenya-based microfinance institution (MFI) that aims to empower youth to achieve social and economic freedom in Africa.

Additional Sources and Resources:

[1] Direct source information sent from responsAbility to MicroCapital

MicroCapital.org Article, June 26, 2013, “MICROCAPITAL BRIEF: responsAbility Loans $9.5m to MicroCred Nanchong of China,” https://www.microcapital.org/microcapital-brief-responsability-loans-9-5m-to-microcred-nanchong-of-china/

MicroCapital.org Article, May 3, 2013, “MICROCAPITAL BRIEF: responsAbility Loans $8m to Banco Pichincha of Ecuador, https://www.microcapital.org/microcapital-brief-responsability-loans-8m-to-banco-pichincha-of-ecuador/

MicroCapital Profile: responsAbility Social Investments AG, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility

MicroCapital Profile: Chase Bank of Kenya, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Chase+Bank+of+Kenya

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