National Bank of Kenya

From Wikipedia, the free encyclopedia
Jump to: navigation, search
National Bank of Kenya
Type Public company: NSE: NABK
Industry Financial Services
Founded 1968
Headquarters Nairobi, Kenya
Key people Mohamed A. Hassan
Chairman[1]
Munir Sheikh Ahmed
Managing Director[2]
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards
Revenue IncreaseAftertax:US$12.6 million (KES:1.090 billion) (2013)
Total assets US$1.07 billion (KES:92.5 billion) (2013)
Employees 1,079 (2014)[3]
Website Homepage

National Bank of Kenya (NBK), also known as National Bank, is a commercial bank in Kenya, the largest economy in East Africa. It is licensed by the Central Bank of Kenya, the central bank, and national banking regulator.[4]

Overview[edit]

NBK is a large financial services provider in Kenya, serving individuals, small-to-medium companies and businesses (SMEs) and large corporations. Headquartered in Nairobi, the bank owns one subsidiary company: NatBank Trustee and Investment Services Limited. As of December 2013, National Bank of Kenya's asset base was valued at approximately US$1.07 billion (KES:92.5 billion), with shareholders' equity valued at about US$137.2 million (KES:11.85 billion).[5] At that time, National Bank of Kenya was ranked number eleven, by assets, among the forty-three commercial banks licensed in the country then.[6] The stock of National Bank of Kenya is listed on the Nairobi Stock Exchange, where it trades under the symbol: NBK.[7]

History[edit]

The bank was established in 1968 as a 100% government-owned financial institution. In 1994, the Kenyan Government reduced its shareholding to 68% by selling 32% shareholding to the public. The government further divested from NBK over the years, until its present shareholding of 22.5%, as of August 2014.[8] Following 12 years of poor financial performance, the bank became profitable again in 2010, paying out an annual dividend every year since.[9]

Subsidiaries[edit]

The bank owns the following subsidiary companies in which it has 100% shareholding

  1. Natbank Trustee and Investment Services Limited: Nairobi, Kenya
  2. Kenya National Capital Corporation Limited: Nairobi, Kenya
  3. NBK Insurance Agency Limited: Nairobi, Kenya

Ownership[edit]

As of December 2013, the stock of National Bank of Kenya is owned by the following corporate entities and individuals:[10]

National Bank of Kenya Stock Ownership
Rank Name of Owner Percentage Ownership
1 National Social Security Fund (Kenya) 48.05
2 Kenya Ministry of Finance 22.50
3 NIC Custodial Services 0.41
4 Equity Nominee Limited:00084 0.37
5 Equity Nominee Limited:00111 0.34
6 Standard Chartered Nominees:9098AJ 0.34
7 Ephraim Mwangi Maina 0.33
8 Craysell Investments Limited 0.32
9 Jubilee Insurance Company of Kenya Limited 0.29
10 David Mwangi Ndegwa 0.25
11 Over 49,200 Other Investors 26.79
Total 100.00

See also[edit]

References[edit]

  1. ^ NBK, . "National Bank of Kenya: The Board of Directors". National Bank of Kenya (NBK). Retrieved 6 August 2014. 
  2. ^ News, . (7 June 2012). "National Bank of Kenya Gets New Boss To Replace Marambii". Daily Nation (Nairobi). Retrieved 6 August 2014. 
  3. ^ Munda, Constant (27 March 2014). "Kenya: National Bank to Shed Off Staff to Reduce Wage Bill". The Star (Nairobi). Retrieved 6 August 2014. 
  4. ^ CBK, . "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 6 August 2014. 
  5. ^ NBK, . "Abridged, Audited 31 December 2013 Financial Statement" (PDF). National Bank of Kenya (NBK). Retrieved 6 August 2014. 
  6. ^ Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. Retrieved 6 August 2014. 
  7. ^ NSE, . "Nairobi Securities Exchange: Listed Companies". Nairobi Securities Exchange (NSE). Retrieved 6 August 2014. 
  8. ^ NBK, . "History of National Bank of Kenya". National Bank of Kenya (NBK). Retrieved 6 August 2014. 
  9. ^ Munda, Constant (28 March 2014). "National Bank of Kenya Shareholders Receive Dividend Raise". The Star (Nairobi). Retrieved 6 August 2014. 
  10. ^ NBK, . (March 2014). "National Bank of Kenya Audited 31 December 2013 Annual Report: List of 10 Largest Shareholders". National Bank of Kenya (NBK). Retrieved 6 August 2014. 

External links[edit]