Paramount Universal Bank

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Paramount Universal Bank
Type Private
Industry Financial Services
Founded 1993
Headquarters Nairobi, Kenya
Products Checking, Savings, Investments, Debit Cards
Website Homepage

Paramount Universal Bank (PUB), whose full name is Paramount Universal Bank Limited, but is often referred to as Paramount Bank, is a commercial bank in Kenya. It is one of the forty-four commercial banks licensed by the Central Bank of Kenya, the national banking regulator.[1]

Overview[edit]

Paramount Universal Bank is a small retail bank in Kenya, East Africa's largest economy. In December 2009, the bank was ranked number 40, by assets, out of 44 licensed commercial banks in the country.[2] As of December 2010, the bank was ranked number 38, by assets, out of 43 commercial banks in the country.[3] In 2012, PUB was ranked number 36 out of 43 commercial banks in Kenya.[4] The bank is an active member of the MoneyGram money transfer network, based in the United States of America.

History[edit]

The bank was established in 1993, as a deposit-taking, non-bank financial institution called Combined Finance Limited. The company's share capital at that time was approximately US$300,000 (KES:25 million). In 1995, after increasing its share capital and following the issuance of a commercial banking license, the company rebranded to Paramount Bank Limited, and began banking operations.[5] In 2000, Paramount Bank merged with Universal Bank Limited to form Paramount Universal Bank.[6]

Ownership[edit]

As of December 2010, Paramount Universal Bank is a privately held company whose owners are not publicly known.

Branch network[edit]

The bank maintains a network of branches at the following locations: [7]

  1. Westlands Branch - Sound Plaza, Woodvale Grove, Westlands, Nairobi Main Branch
  2. Parklands Branch - Amani Plaza, 3rd Parklands Avenue, Parklands, Nairobi
  3. Kimathi House Branch - Kimathi House, City Centre, Nairobi
  4. Koinange Street Branch - Paramount Bank House, Koinange Street, Nairobi
  5. Mombasa Branch - Jubilee Building, Moi Avenue, Mombasa
  6. Eldoret Branch - Karims Hardware Building, Oloo Street, Eldoret

External links[edit]

See also[edit]

References[edit]