Standard Chartered Kenya

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Standard Chartered Bank Kenya
Type Public: NSE:SCBK
Industry Financial Services
Founded 1910
Headquarters Nairobi, Kenya
Key people Anne Mutahi[1]
Chairperson
Lamin Manjang[2]
Chief Executive Officer
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue Increase Aftertax: US$108.7 million (KES:9.26 billion) (2013)[3][4]
Total assets US$2+ billion (KES:164 billion) (2011)
Employees 1,040+ (2011)
Website www.sc.com/ke

Standard Chartered Kenya, whose official name is Standard Chartered Bank (Kenya) Limited, but is sometimes referred to as Stanchart Kenya, is a commercial bank in Kenya. It is a subsidiary of the British multinational financial conglomerate headquartered in London, United Kingdom, known as Standard Chartered. Stanchart Kenya is one of the banks licensed by the Central Bank of Kenya, the national banking regulator.[5]

Overview[edit]

Standard Chartered Kenya is a large financial services provider in Kenya. According to Kenyan sources, the bank was the 5th largest commercial bank in the country, by assets, as of December 2011. At that time, its total asset valuation was in excess of US$2 billion (KES:164 billion).[6] The value of the shareholders' equity in the institution is not available at this time.

History[edit]

According to the website of the Central Bank of Kenya,[7] the Standard Bank of British South Africa received its commercial banking license in 1910 to start banking operations in British East Africa. In January 1911, it opened its first two branches, one in the national capital, Nairobi, and another in the port city of Mombasa.[8][9]

In 1969, the bank's name was changed to Standard Chartered Bank of Kenya when the its Parent company, The Standard Bank South Africa merged with the Chartered Bank of India, Australia and China forming the Standard Chartered Bank.

The bank was listed on the Nairobi Securities Exchange in 1989 [10] offering 21 million shares to the public. This was the largest single placing at the NSE at the time.[11]

As of May 2014, the bank has a network of 34 branches, 90 Automated Teller Machines (ATMs) and employs 1,698 people.

Ownership[edit]

The stock of the bank is listed on the Nairobi Stock Exchange, where it trades under the symbol:SCBK. The shareholding in the bank is summarised in the table below:[12]

Stanchart Kenya Stock Ownership
Rank Name of Owner Percentage Ownership
1 Standard Chartered Group 75.00
2 Institutional & Individual Investors on the Nairobi Stock Exchange 25.00
Total 100.00

Governance[edit]

The Chairperson of the Board of Directors is Anne Mutahi, one of the non-Executive directors.[13] Lamin Manjang serves as the Chief Executive Officer.[14]

See also[edit]

References[edit]