Chase Bank (Kenya)

From Wikipedia, the free encyclopedia
Jump to: navigation, search
For the JPMorgan Chase Bank, see Chase (bank).
Chase Bank Kenya Limited
Type Private
Industry Financial Services
Founded 1996
Headquarters Nairobi, Kenya
Key people
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue Increase Aftertax: US$5 million (KES:427 million) (Q1:2014)
Total assets US$1.1 billion (KES:90.7 billion) (Q1:2014)
Employees 727 (2012)
Website Homepage

Chase Bank Kenya Limited (CBK), is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the central bank and national banking regulator.[1]


Chase Bank (Kenya) is a large financial services provider in Kenya, with an estimated asset valuation of approximately US$1.04 billion (KES:93.6 billion), as of September 2014.[2] As of November 2013, the bank's shareholders' equity was valued at about US$116.8 million (KES:10.5 billion).At the end of 2013, Chase Bank (Kenya), was ranked 12th in size by assets, out of 43 commercial banks operating in the country at that time.[3]


In 1995, several business people acquired a 60% stake in United Bank (Kenya), after paying approximately US$1.23 million (Kenya Shillings 95 million). At that time the bank's headquarters were located in the western town of Kisumu, approximately 380 kilometres (240 mi), by road, northwest of Nairobi, Kenya's capital and largest city.[4]

Then, United Bank (Kenya) was in receivership and was under statutory administration by the Central Bank of Kenya, the country's banking regulator. Its paid-up capital, then, was approximately US$970,000 and it had an asset base valued at approximately US$1.9 million. In 1996, the bank opened for business under the new owners who rebranded to its present name. In 1997, a decision was made to relocate the bank's only branch at the time, from Kisumu to Nairobi. Over the years, Chase Bank (Kenya) has progressively improved its bottom line by growing its customer base and increasing its profitability.


In March 2013, Amethis Finance, a development finance company based in Paris, France, invested US$10.5 million (KES:900 million) into the bank, thereby taking an equity position in Chase Bank (Kenya).[5] In October 2013, a European Private Equity Fund, invested KSh1.5 billion into the bank, taking up an equity position into the institution.[6] As of November 2013, the shareholders in the stock of the bank is summarized in the table below:[7]

Stock Ownership In Chase Bank (Kenya)
Rank Name of Owner Percentage Ownership
1 Amethis Finance of France
2 German Investment Corporation (DEG)[8]
3 European Investment Bank (EIB)
4 responsAbility Participations AG
5 Other Institutional & Individual Investors
Total 100.00


The Chase Group of companies currently comprises Conventional and Shariah Compliant (Chase Iman) banking products and services, bancassurance products (Chase Assurance), stock brokerage (Genghis Capital) and off share investments (Winton Offshore Investments). In addition, the Group also has micro-finance services offered via Rafiki Microfinance, a deposit-taking microfinance institution. Currently Rafiki is the only East African deposit taking micro-finance entity wholly owned by a banking institution.[9]


As of August 2014, the bank maintains a network of branches at the following locations:[10]

Nairobi Branches
  1. City Centre Branch - Prudential Assurance Building, Wabera Street Nairobi
  2. Buru Buru Branch - Kenol Buru Buru, Mumias South Road, Nairobi
  3. Diamond Plaza Branch - Diamond Plaza, Parklands, Nairobi
  4. Donholm Branch - East Gate Shopping Mall, Nairobi
  5. Eastleigh Branch - Sunrise Shopping Mall, First Avenue, Eastleigh, Nairobi,
  6. Elite Banking Centre - 1st Floor, ABC Towers, Waiyaki Way, Nairobi
  7. Embakasi Branch - Ground Floor, Taj Shopping Mall, Outer Ring Road, Embakasi, Nairobi
  8. Hurlingham Branch - Ground Floor, Northern Wing, Landmark Plaza, Argwings Kodhek Road, Nairobi
  9. Ngara Branch - Peace Plaza, Ngara Road, Nairobi
  10. Parklands Branch - Ground Floor, Mediplaza, Third Avenue, Parklands, Nairobi
  11. Riverside Mews Branch - Riverside Mews, Riverside Drive, Nairobi
  12. Sameer Park Branch - Sameer Park, Mombasa Road, Nairobi
  13. Strathmore Branch - Strathmore Student Center, Madaraka Estate, Ole Sangale Road, Nairobi
  14. Upper Hill Branch - KMA Centre, Junction of Chyulu / Mara Road, Upper Hill, Nairobi
  15. Village Market Branch - 3rd Level, Village Market, Limuru Road, Gigiri, Nairobi
  16. Windsor Branch - Ridgeways Mall, Kiambu Road, Nairobi
  17. Ongata Rongai Branch - Masaai Mall, Rongai Road Nairobi
  18. Delta Branch - Delta Towers, Westlands Roundabout Nairobi
  19. Lunga Lunga Branch, next to Tuskys Lunga Lunga, Industrial Area Nairobi
  20. River Road Branch
Mombasa Branches
  1. Bondeni Branch - Ground Floor, Suhufi Palace, Abdel Nasser Road, Mombasa
  2. Mombasa Branch - Ground Floor, Jubilee Building, Moi Avenue, Mombasa
  3. Nyali Branch - Nyali Plaza, Links Road, Mombasa
  4. Mtwapa Branch - Tuskys Mall, Mtwapa Mombasa
  5. Old Town Branch - Opposite Central Police Station Mombasa
Upcountry branches
  1. Eldoret Branch - Utamaduni Building, Kenyatta Street, Eldoret
  2. Kisii Branch - Royal Towers, Hospital Road, Kisii
  3. Kisumu Branch - West Emporium, Oginga Odinga Street, Kisumu
  4. Malindi Branch - Links Road, Opposite Multi Grocers Limited, Malindi
  5. Nakuru Branch - Spikes Business Centre, Kenyatta Avenue, Nakuru
  6. Thika Branch - Nelleon Building, Kenyatta Avenue, Thika
  7. Machakos Branch - at Naivas House, along Mwatu wa Ngoma Rd., Machakos Town Machakos


The bank is governed by a nine-person board of directors. Osman Murgian, one of the non-Executive Directors is the Chairman of the Board. Zafrullah Khan serves as the Managing Director. Duncan Kabui, serves as the Chief Executive Officer, and is also a member of the board of directors.[11]

See also[edit]


  1. ^ CBK, . "Central Bank of Kenya: Directory of Commercial Banks And Mortgage Finance Companies". Central Bank of Kenya (CBK). Retrieved 4 August 2014. 
  2. ^ Gakii, Mercy (29 April 2014). "Chase Bank Profits Rise By 61 Percent to Sh427 Millon". The Star (Nairobi) via Retrieved 1 May 2014. 
  3. ^ Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets 2013". Bankelele.Co.Ke. Retrieved 4 August 2014. 
  4. ^ "Map Showing Nairobi And Kisumu With Distance Marker". Retrieved 4 August 2014. 
  5. ^ Mwaniki, Charles (19 March 2013). "French Investor Buys KSh900 Million Stake In Chase Bank". Business Daily Africa (Nairobi). Retrieved 4 August 2014. 
  6. ^ Ngigi, George (6 October 2013). "Europe Equity Fund Buys Chase Bank Shares for KSh1.5 Billion". Business Daily Africa (Nairobi). Retrieved 4 August 2014. 
  7. ^ Capital, FM (15 November 2013). "Kenya: Chase Bank Gets KSh1.6 Billion Capital Injection". Capital FM (Nairobi) via Retrieved 4 August 2014. 
  8. ^ Munda, Constant (19 November 2013). "Kenya: Chase Bank Receives KSh865 Million Boost". The Star (Nairobi). Retrieved 4 August 2014. 
  9. ^ Ngigi, George (18 February 2014). "Chase Bank Subsidiary Bets Big On Mortgage Loans". Business Daily Africa (Nairobi). Retrieved 4 August 2014. 
  10. ^ "The Branches of Chase Bank (Kenya)". Chase Bank Kenya. Retrieved 4 August 2014. 
  11. ^ "The Members of the Board of Directors". Chase Bank Kenya. Retrieved 4 August 2014. 

External links[edit]