Betty Maritim Korir
|Products||Loans, Checking, Savings, Investments, Debit Cards|
|Revenue||Aftertax:US$600,000 (KES:59.8 million) (2015)|
|Total assets||US$103.2 million (KES:10.29 billion) (2015)|
Number of employees
Credit Bank Limited (CBL), commonly referred to as Credit Bank, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.
The bank is a medium-sized commercial bank in Kenya, East Africa's largest economy. Prior to 2010, the bank's focus was large corporations and upscale businesspeople. In September 2010, Credit Bank changed strategy and transformed into a retail bank, serving all segments of society and their businesses. As of December 2015[update], the bank's total assets were valued at approximately US$103.2 million (KES:10.29 billion), with shareholders' equity valued at US$13.96 million (KES:1.392 billion). At that time, the bank was ranked number 38, by assets, out of the 43 licensed commercial banks in Kenya.
The bank was founded in 1996, as a non-bank financial institution (NBFI); Credit Kenya Limited. In 1995, the institution was awarded a commercial banking license and it rebranded to Credit Bank Limited.
As at January 2016, the shares of stock of Credit Bank are privately owned by corporate and individual investors, including the following: In January 2016, Fountain Enterprises Programme Group (FEP) announced plans to acquire a controlling 75 per cent stake in Credit Bank for KSh4 billion (approx. US$40 million), pending approval of the Central Bank of Kenya.
|Rank||Name of Owner||Percentage Ownership|
|1||Companies affiliated with Simeon Nyachae|
|4||Fountain Enterprises Programme Group (FEP)||
The bank maintains networked branches at the following locations:
- Main Branch - Mercantile House, Koinange Street, Nairobi
- Westland Branch - Empress Plaza, Ring Road, Westlands, Nairobi
- Industrial Area Branch - 53 Butere Road, Industrial Area, Nairobi
- Lavington Branch - Lavington Mall, James Gichuru Road, Lavington, Nairobi
- Kisumu Branch - Swan Centre, Oginga Odinga Road, Kisumu
- Kitengela Branch - 2nd Floor, Safari House, Namanga Road, Kitengela
- Nakuru Branch I - Giddo Plaza, Eldoret-Nakuru Highway, Nakuru
- Nakuru Branch II - Polo Centre, Kenyatta Avenue, Nakuru
- Kisii Branch - Hospital Road, Kisii
- Eldoret Branch - Zion Mall, Uganda Road, Eldoret
- Ongata Rongai Branch - Maasai Mall, Magadi Road, Ongata Rongai
- Machakos Branch - Mbolu-Malu Road, Machakos
- Thika Branch - Second Floor, Biashara Plaza, Maama Ngina Street, Thika
- Nyali Branch - Nyali Centre, Link Road, Nyali
- New Nairobi Branch - Nairobi
- Meru Branch - Meru
- Credit Bank (24 March 2016). "Credit Bank Limited: Annual Report and Financial Statements for the Year Ended 31 December 2016" (PDF). Nairobi: Credit Bank. Retrieved 16 August 2016.
- CBK, . "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 13 August 2014.
- Gachiri, John (14 January 2016). "Investment firm FEP buys 5 per cent stake in Nyachae's Credit Bank". Business Daily Africa. Nairobi. Retrieved 15 January 2016.
- CBL, . "History of Credit Bank Limited". Credit Bank Limited (CBL). Archived from the original on 13 August 2014. Retrieved 13 August 2014.
- Gachiri, John (18 January 2016). "FEP set to pay Sh4bn for controlling stake in Nyachae's Credit Bank". Business Daily Africa. Nairobi. Retrieved 19 January 2016.
- Juma, Victor (16 August 2016). "FEP pays Sh107 million to buy stake in Nyachae majority-owned bank". Business Daily Africa. Nairobi. Retrieved 16 August 2016.
- CBL, . "The Branch Network of Credit Bank Limited". Credit Bank Limited (CBL). Retrieved 13 August 2014.