|Key people||Bethuel Kiplagat
|Products||Loans, Checking, Savings, Investments, Debit Cards|
|Revenue||Aftertax: US$2.1 million (KES:173 million) (2011)|
|Total assets||US$113 million (KES:9.3 billion) (2011)|
The bank is a medium-sized microfinance bank serving the urban and rural poor in Kenya, as well as financing their small-to-medium business enterprises. As of December 2011[update], the total asset valuation of K-Rep Bank was approximately US$113 million (KES:9.3 billion), with shareholders' equity of approximately US$15.75 million (KES:1.3 billion).
K-Rep was founded in 1984. In the beginning, the organisation provided grants and technical assistance to NGOs. The NGOs then made loans to micro-enterprises. In 1989, K-Rep changed its strategy from making grants to NGOs to lending to the NGOs. The technical assistance that had been hitherto provided for free, now attracted a fee. In 1999, K-Rep re-organized itself into four entities:
- K-Rep Group – This is the parent company. It owns, either wholly or partially, the other three subsidiaries.
- K-Rep Bank – This is the lending arm of the Group. It is the core business of the Group. In addition to K-Rep Group, the bank has several International strategic shareholders as outlined below.
- K-Rep Development Agency – This company carries out research and developmental assistance work for the Group
- K-Rep Advisory Services – This is a consulting company, which provides consultancy services for a fee.
|Centenary Bank Stock Ownership|
The Chairman of the seven-person board of directors is Kenny Nwosu, one of the non-Executive Directors. Albert Ruturi serves as the managing director.