Development Bank of Kenya
|Headquarters||Loita Street, Nairobi, Kenya|
|Key people||H.K.Mengech, Chairman
Victor Kidiwa, CEO
|Revenue||Aftertax: US$1.6 million (2009)|
|Total assets||US$97 million (2009)|
DBK is a medium-sized financial institution providing an array of financial services to both individuals and businesses. As of December 2009[update], the total asset valuation of the bank was in excess of US$97 million, with shareholder's equity in excess of US$16 million.
Development Bank of Kenya was established in 1963 as a non-banking financial institution. Its primary focus at that time was to promote and develop commercially viable projects in Kenya. In 1964, DBK began financing development projects as a Development Finance Institution (DFI). As part of the banking reforms of 1996, DBK converted to a commercial bank and began accepting customer deposits.
Shareholding in DBK at its inception included (a) the Government of Kenya, through the Industrial and Commercial Development Corporation (ICDC), (b) the British Government, through Commonwealth Development Corporation (CDC) and (c) the Government of Germany, through the German Investment Corporation (DEG).
In 1967, the Dutch Government, through the Netherlands Development Finance Company (FMO), became the fourth shareholder. In 1981, the World Bank, through the International Finance Corporation (IFC), became the fifth shareholder. Over the years, the non-Kenyan shareholders have divested from the bank and shareholding in DBK is as depicted in the table below:
|Development Bank of Kenya Stock Ownership|