Prime Bank (Kenya)

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Prime Bank Kenya
Type Private
Industry Financial Services
Founded 1992
Headquarters Nairobi, Kenya
Key people R.C. Kantaria
Chairman
Bharat Jani
Chief Executive Officer
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue Increase Aftertax:US$9.96 million (KES:834.4 million) (2012)
Total assets US$518.74+ million (KES:43.5 billion) (2012)
Website Homepage

Prime Bank (Kenya) Limited (PBKL), commonly known as Prime Bank Kenya, but also referred to as Prime Bank (Kenya), is a commercial bank in Kenya. It is one of the forty-four (44) licensed commercial banks in the country.[1]

Overview[edit]

The bank is a medium-sized retail bank that caters to both individuals and corporate clients. As of December 2012, the bank's total asset base was estimated at approximately US$518.74 million (KES:43.5 billion), with shareholders' equity of about US$50 million (KES:4.175 billion).[2]

The bank has three subsidiaries:

  1. Prime Capital & Credit Limited (PCCL) – Based in Nairobi, Kenya is owned 100% by Prime Bank (Kenya).[3]
  2. First Merchant Bank – A retail bank based in Blantyre, Malawi – Prime Bank (Kenya) has a 22.48% shareholding in First Merchant Bank. 11.24% is held directly by PBKL while the remaining 11.24% is held through its 100% subsidiary, PCCL.[4]
  3. Capital Bank – A commercial bank based in Gaborone, Botswana, is 51% owned by First Merchant Bank of Malawi, in which Prime Bank (Kenya) has 22.48% shareholding. Therefore Prime Bank (Kenya) owns 11.46% of Capital Bank of Botswana.[5]

Ownership[edit]

The stock of the bank is privately held. The detailed shareholding in Prime Bank (Kenya) is not publicly known.

Governance[edit]

R. C. Kantaria, a non-executive director of the bank, serves as the Chairman of the seven-member board of directors. Bharat Jani is the chief executive officer of Prime Bank (Kenya).[6]

See also[edit]

External links[edit]

References[edit]