Standard Chartered Bank has today held the second SME roundtable for over 100 of its Business Banking clients at Kampala Serena Hotel – Katonga Hall. This is part of the activities the Bank is undertaking since the launch of a Business Banking campaign in March this year with exciting offers and a proposition for SMEs.
The Business Banking roundtable discussions give the Bank an opportunity to share with SMEs knowledge, expertise, experiences, enable them network as well as deepen relationships between the Bank and its clients. The first Business Banking roundtable was successfully held for over 120 participants on Friday, 16th March 2018 at Imperial Royale Hotel.
“I encourage you to take advantage of this exciting Business Banking promotion and to let your colleagues know about it.” Said the CEO Albert Saltson while delivering his welcome remarks during the 2nd Business Banking Roundtable
The Bank revamped its Business Banking Client Value Proposition which focuses on;
Making Business Banking easy
Protecting your business
Offering simple solutions for your funding & expansion needs
Taking your business across borders and
Offering Expert Support
As part of this Business Banking campaign the Bank is offering a 50% discount on legal professional fees, zero fees for loan approvals on balance transfer amounts, slashed interest rates of 17.3% p.a and a maximum tenor of 20 years to any SME that banks with it.
Mr. Saltson further stated; “As a Bank, we understand that SMEs like yours are the backbone of Uganda’s economy contributing to over 70% of the country’s GDP and a source of livelihood to 2/3 of the population.
Standard Chartered Bank’s commitment to the growth of SMEs in Uganda dates back to 2004 when we started providing specialized services to SMEs in Uganda with an ambition of “Making Business Banking Easy” through; Provision of high quality services and products, Building lasting relationships and Remaining relevant to our customers in a fast growing economy. We have since consistently served our customers, providing solutions to meet their working capital, business expansion, business protection and Yield Enhancement needs.” He reiterated.
To underpin the importance of the Business Banking clients over the years, the Bank has in place not only a specialized unit but also a highly skilled Business Banking team comprising of highly trained Relationship Managers (RMs) including Chinese RMs.
The Key Note Speaker Mr. Allan Katwalo an Associate professor of Strategic Management while delivering his presentation focused on the topic; “where do I find my competitiveness: Competitive Advantage, Value Creation, and Profitability”.
“Building Blocks of Competitive Advantage requires you to differentiate your product offering, offer more utility to customer and lower the cost structure regardless of the industry, its products, or its services. He called upon SMEs to be more efficient and Innovative alleging that Superior efficiency helps a company attain a competitive advantage through a lower cost structure while innovation can be a major source of competitive advantage –giving a company something unique or something its competitor’s lack,” Katwalo Said
The Bank through this Business Banking campaign has committed to continue to support the SME businesses growth by understanding their financial needs which range from basic borrowing needs to more advanced strategic needs of Corporate finance and that it will address them in a relevant way that enables the SMEs to reduce their cost of doing business and manage their financial risks through innovative products and services.