Jamii Bora Bank
|James Mwangi Gacheru
Chief Executive Officer
|Products||Loans, Checking, Savings, Investments, Debit Cards|
|Revenue||Aftertax:US$981,700+ (KES:96 million) (2014)|
|Total assets||US$143.2 million (KES:14 billion) (July 2015)|
The bank was founded, as a Charitable Trust, by fifty destitute families on the streets of Nairobi, Kenya's capital and largest city. In March 2010, it merged with another financial institution with a banking license and transformed into a fully fledged commercial bank.
In March 2010, Jamii Bora merged with City Finance Bank (CFB), a small private financial services provider which, in the past, had provided services to large corporations and high-net-worth individuals. In the merger, CFB acquired JBB and took on the name of its new acquisition. Other investors in the bank include Baraka Africa Fund (BAF), and other individual investors.
In July 2015, the bank's total assets were valued at approximately US$143.2 million (KSh14 billion). As of December 2014[update], the bank's total assets were valued at about US$134 million (KES:13.1 billion), with shareholders' equity of about US$23.5 million (KES:2.5 billion).
Jamii Bora Bank is privately owned. A rights issue of US$4 to 6 million was successfully executed in the 4th quarter of 2010. In November 2011, a new consortium known as Asterisk Holdings, invested KES:410 million (approx:US$4.6 million) in Jamii Bora Bank. The major shareholders in the stock of the bank, as of December 2011 are listed in the table below:
|Rank||Name of Owner||Percentage Ownership|
|1||Jamii Bora Scandinavian Group||25.0|
|4||Jamii Bora Trust||12.0|
|5||900 Former CFB Investors||11.0|
|6||Baraka Africa Fund||8.0|
- Koinange Branch - Jamii Bora House, Koinange Street, Nairobi
- Funzi Road Branch - Industrial Area, Funzi Road, Nairobi
- Ongata Rongai Branch - Ongata Rongai, Nairobi
- Thika Branch - Kenyatta Avenue, Thika
- Kikuyu Branch - Brick House, Kikuyu
- Kisumu Branch - Guilders Plaza, Odera Kango Street, Kisumu
- Kayole Branch - Kayole, Nairobi
- Kibera Branch - Kibera, Nairobi
- Banana Branch - Davekon Place, Limuru-Tigoni Road, Banana Town, Kiambu
- Mtwapa Branch - Mtwapa
- Muranga Branch - Kiriti Women House, Uhuru Highway, Muranga
- Mombasa Branch - Southern House, Moi Avenue, Mombasa
- Eastleigh Branch - Super Arcade, Second Avenue, Eastleigh, Nairobi
- Kawangware Branch - Mbugua Plaza Junction, Kawangware, Nairobi
- Kariobangi Branch - Outer Ring Road, Kariobangi, Nairobi
- Kiongozi Branch - Jamii Bora House, First Floor, Koinange Street, Nairobi Main Branch
- Ngong' Road Branch - Green House, Ngong' road, Nairobi
- Kirinyaga Road Branch - Kirinyaga Road, Nairobi
- Machakos Branch - Machakos Town
- Kiritiri Branch
- Kitengela Branch
- Juma, Victor (13 June 2012). "Jamii Bora Shakes Up Board of Directors". Business Daily Africa. Retrieved 22 July 2014.
- Mwita, Martin (1 July 2015). "Jamii Bora Rules Out Merger, To Raise KSh3 Billion". The Star (Kenya). Nairobi. Retrieved 4 July 2015.
- CBK, . "Central Bank of Kenya - Bank Supervision: Commercial Banks & Mortgage Finance Institutions". Central Bank of Kenya (CBK). Retrieved 22 July 2014.
- Anyanzwa, James (30 March 2010). "City Finance Buys Out Jamii Bora". The Standard (Kenya) (StandardMedia.Co.Ke). Retrieved 22 July 2014.
- Mwita, Martin (1 July 2015). "Kenya: Jamii Bora Bank To Open Branches In Uchumi Shops". The Star (Kenya) via AllAfrica.com. Nairobi. Retrieved 4 July 2015.
- Ngigi, George (6 December 2011). "Jamii Bora Bank Targets Mid-Tier Status In Upgrade". Business Daily Africa (Nairobi). Retrieved 22 July 2014.
- JBB, . "Branches of Jamii Bora Bank". Jamii Bora Bank (JBB). Retrieved 22 July 2014.
- Mwangi, Wachira (8 September 2013). "Jamii Bora Deepens Reach With Mtwapa Branch". Business Daily Africa (Nairobi). Retrieved 22 July 2014.
- Website of Jamii Bora Bank
- Website of Central Bank of Kenya
- Case Study of Jamii Bora Bank
- Jamii Bora Investors To Convert KSh400 Million Bonds Into Shares
- Jamii Bora Profit Jumps 129 Percent On Loan Book Growth
- The Resilience Of Kenyan Banking Sector