Imperial Bank Limited

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Imperial Bank Kenya
Type Private
Industry Financial Services
Founded 1993
Headquarters Nairobi, Kenya
Key people Alnashir Popat, Chairman
Abdulmalek Janmohamed, managing director & CEO
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue Increase:Aftertax:US$10.4+ million (KES:896 million) (2010)[1]
Total assets US$240.5+ million (2010)
Website Homepage

Imperial Bank Limited, commonly known as Imperial Bank, but also known as Imperial Bank Kenya, is a commercial bank in Kenya. It is one of the forty-four (44) licensed commercial banks in the country.[2]

Overview[edit]

The bank is a medium-sized retail bank that caters to both individuals and corporate clients. As of September 2010, the bank's total asset base was valued in excess of US$240.5 million (KES:20.6 billion), with shareholders equity of approximately US$28 million.[3] In November 2010 Imperial Bank Limited was ranked the 19th largest Kenyan commercial bank, by assets, out of forty-four licensed banks in the country.[4]

History[edit]

Imperial Bank Limited was established in 1993 as a Finance and Securities Company. In 1996, the bank commenced commercial banking services, following the issuance of a banking license by the Central Bank of Kenya, the national banking regulator.[5] In January 2011, the bank, in partnership with Mukwano Group, a Ugandan business and manufacturing conglomerate, opened a subsidiary, Imperial Bank Uganda, with headquarters at 6 Hannington Road, on Nakasero Hill, in the center of Kampala's central business district.[6]

Ownership[edit]

The stock of the bank is privately held. The detailed shareholding in Imperial Bank Limited is as follows:[7]

Shareholder Percentage held Notes
Imaran Ltd 14.0% Alnashir Popat (chairman) has a 50% interest in this company
Abdumal Investments Ltd 14.0% Anwar Hajee (director) has a 50% interest in this company
Janco Investments Ltd 13.5% Abdulmalek Janmohamed (MD) has a 50% interest in this company
Rex Motors Ltd 12.5%
Kenblest Ltd 12.5% Jinit Shah (director) has a 50% interest in this company
Momentum Holdings Ltd 12.5% Mukesh Kumar Patel (director) has a 50% interest in this company
EA Motor Industries Ltd 11.0% Vishnu Dhutia (director) has a 50% interest in this company
Reynolds & Company Ltd 10.0% Hanif Mohamed Amirali Somji (director) has a 50% interest in this company
100.0%

As of March 2011, the bank maintained 16 branches throughout Kenya.[8]

Governance[edit]

Alnashir Popat, a non-executive director of the bank, serves as the Chairman of the seven-member board of directors. Abdulmalek Janmohamed is the chief executive officer of Imperial Bank Limited.[9]

See also[edit]

External links[edit]

References[edit]