Jump to content

KCB Bank Kenya Limited

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by Monkbot (talk | contribs) at 02:12, 23 January 2021 (Task 18 (cosmetic): eval 9 templates: hyphenate params (9×);). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

   

KCB Bank Kenya Limited
Company typePrivate company
IndustryBanking
Founded2015
HeadquartersKencom House, Moi Avenue, Nairobi, Kenya and KCB Plaza, Upperhill, Nairobi, Kenya
Key people
Ngeny Biwott
Chairman
Joshua Oigara
Chief Executive Officer
ProductsLoans, credit cards, savings, investments, mortgages
RevenueIncrease: Aftertax: US$104.9 million (KES:8.8 billion) (2010)
Total assetsUS$3.681 billion+ (KES:366 billion) (2015)
ParentKCB Group
WebsiteHomepage

KCB Bank Kenya Limited is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the national banking regulator.[1] The bank has also been running Agency banking model.[2]

Overview

As of December 2015, KCB Bank Kenya was the largest commercial bank in Kenya with assets of more than US$3.681 billion (KES:366 billion) and US$2.776 billion (KES:276 billion) in customer deposits.[3]

History

KCB Bank Kenya roots trace back to July 1896 when its parent company, KCB Group, was formed as a branch of the National Bank of India in Mombasa. In 1958, Grindlays Bank merged with the National Bank of India to form the National and Grindlays Bank. Upon independence, the Government of Kenya acquired 60% shareholding in National & Grindlays Bank. In 1970, the Government took full control of the bank and renamed it to Kenya Commercial Bank Group.[4]

KCB Bank Kenya, as it is now known, was incorporated in 2015 as a result of the corporate restructure of Kenya Commercial Bank Group (KCB Group). Prior to 2015, KCB Group was both a licensed bank and a holding company for its subsidiaries.[4] This was in compliance with the Kenya Finance Act No.57 of 2012. KCB Group Limited announced, in April 2015, its intention to incorporate a new wholly owned subsidiary, KCB Bank Kenya Limited, to which it would transfer its Kenyan banking business, assets and liabilities. The re-organisation converted KCB Group Limited into a non-trading holding company that owns both banking and non-banking subsidiary companies.[4]

In 2016, KCB Group PLC was registered as a non-operating holding company to manage and oversee all KCB regional units in Kenya, Tanzania, South Sudan, Uganda, Rwanda, Burundi and Ethiopia. [5]

Ownership

KCB Bank Kenya Limited is a 100 percent subsidiary of KCB Group. Shares of KCB Group are listed on the Nairobi Stock Exchange (NSE), under the symbol (KCB). The group's stock is also cross listed on the Uganda Securities Exchange (USE), the Rwanda Stock Exchange (RSE) and the Dar es Salaam Stock Exchange (DSE).[6]


KCB Group Plc

Main article: KCB Group Limited
KCB building in Nairobi

KCB Bank Kenya Limited is a member of the KCB Group of companies. KCB Group companies include:[7]

Branch network

As of December 2015, KCB has more than 250 branches throughout Kenya, making it the largest banking network in the country. It has the largest number of own-branded ATMs in Kenya. At that time, it served over 7 million account holders.[8]

Officers and management

The chairman of the bank's board of directors is Andrew Wambari Kairu,[9] and the chief executive officer and managing director of the bank is Joshua Oigara.[10]

See also

References

  1. ^ CBK (19 April 2016). "Directory of Licenced Commercial Banks, Mortgage Finance Institutions And Authorised Non-Operating Bank Holding Companies: Commercial Banks" (PDF). Central Bank of Kenya (CBK). Retrieved 19 April 2016.
  2. ^ "Agent Banking". ke.kcbbankgroup.com. Archived from the original on 23 February 2017. Retrieved 23 August 2017.
  3. ^ Achuka, Vincent (16 April 2016). "Kenya: Local and Foreign Suitors Jostle to Buy Chase Bank". Daily Nation via AllAfrica.com. Nairobi. Retrieved 19 April 2016.
  4. ^ a b c KCBGL (22 April 2015). "Ratification of Incorporation of Wholly Owned Subsidiary And Proposal For The Transfer of Banking Business, Assets And Liabilities To That Subsidiary" (PDF). Nairobi: KCB Group Limited (KCBGL). Retrieved 20 April 2016.
  5. ^ "Update 2016: KCB Group Limited". Nairobi: KCB Group Limited (KCBGL).
  6. ^ Anyanzwa, James (30 January 2016). "Cross-listed stocks could cut growth of bourses". The EastAfrican. Nairobi. Retrieved 20 April 2016.
  7. ^ KCBGL (15 May 2015). "KCB Shareholders Approve New Group Holding Company, Dividend Payout". Nairobi: KCB Group Limited (KCBGL). Archived from the original on 8 May 2016. Retrieved 20 April 2016.
  8. ^ Managing Editor (22 December 2015). "Kenya Commercial Bank Analysis". Nairobi: Kenyanwallstreet.com. Retrieved 20 April 2016. {{cite web}}: |last= has generic name (help)
  9. ^ https://kcbgroup.com/governance/
  10. ^ KCBGL (22 April 2015). "Ratification of Incorporation of Wholly Owned Subsidiary And Proposal For The Transfer of Banking Business, Assets And Liabilities To That Subsidiary" (PDF). Nairobi: KCB Group Limited (KCBGL). Retrieved 20 April 2016.
Retrieved from "https://en.wikipedia.org/w/index.php?title=KCB_Bank_Kenya_Limited&oldid=1002146549"