Managing Director and Chief Executive Officer of the Bank of Industry, Ms. Evelyn Oputu , has disclosed that the bank’s lending to the SMEs has climbed to 96 percent as at December 2010 from 35 percent in 2005.

Dr. Oputu, who was the guest speaker at the Tenth Sharing Experience Series of the Harvard Business School Alumni  Association, assured that the bank is poised to contribute effectively to the development of local industry, that is why it has dedicated up to 96 percent of its loans to Small and Medium Scale businesses

Fielding questions from reporters, Oputu said that the bank is passionate about the SMEs especially the  Agricultural sector saying that the sector is vital to the growth and development of the country.

She pointed out its export potentials which she said was achievable with enough support and capital.

Oputu said that the effectiveness of the bank’s operation has been remarkable as cumulative direct and indirect jobs created has exceeded 1million as at December 2010.

Also more than 2.37 billion have been approved to various cooperative groups since 2008 under a collective guarantee arrangement.