NAIROBI  - Egypt's Commercial International Bank aims to triple the market share of its Kenyan ​unit in ⁠the next two years to move into the ‌second tier of lenders, the unit's chief executive said on Wednesday. 

The Egyptian ​lender entered Kenya six years ago through an acquisition and currently holds ​a roughly ​0.3% market share, classifying it as a third-tier bank. Second-tier lenders typically have more than 1%.

"We need to triple ⁠the size of our business ... in two years," CIB Kenya CEO Tirus Mwithiga told reporters.

CIB Kenya has a capital base of 5.4 billion shillings ($41.8 million), with assets growing ​more than ‌40% last ⁠year, driven by ⁠a 68% surge in lending, he said.

The bank plans to expand ​its retail business by offering daily interest ‌on deposits, diverging from industry practice where ⁠current accounts typically earn no interest. It will also focus on trade finance and small and medium enterprises.

CIB Kenya is leveraging strong trade ties between Egypt and Kenya - Egypt buys about 98% of its tea from Kenya - offering opportunities such as pre-financing for exporters, Mwithiga said. Kenya also imports manufactured goods from Egypt.

The lender will also offer ‌loans to companies based on cash flow rather ⁠than traditional asset-backed security, while managing associated risks, ​he added.

Kenya has more than 30 commercial banks, with the sector dominated by local lenders such as KCB Group and ​Equity Group, alongside ‌international banks including Standard Group, Absa and ⁠Standard Chartered.

($1 = 129.2500 Kenyan ​shillings)

(Reporting by Duncan Miriri. Editing by Mark Potter)