Jamii Bora Bank

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Jamii Bora Bank
Industry Financial Services
Founded 1999
Headquarters Nairobi, Kenya
Key people
James Mwangi Gacheru
Chairman
Samuel Kimani
Chief Executive Officer[1]
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue IncreaseAftertax:US$981,700+ (KES:96 million) (2014)[2]
Total assets US$143.2 million (KES:14 billion) (July 2015)[2]
Website Homepage

Jamii Bora Bank (JBB), is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the national banking regulator.[3]

History[edit]

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.[4]

Assets[edit]

In July 2015, the bank's total assets were valued at approximately US$143.2 million (KSh14 billion). As of December 2014, 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).[2][5]

Ownership[edit]

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:[6]


Jamii Bora Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 Jamii Bora Scandinavian Group 25.0
2 Asterisk Holdings 25.0
3 Minority Owners 14.0
4 Jamii Bora Trust 12.0
5 900 Former CFB Investors 11.0
6 Baraka Africa Fund 8.0
7 Nordic Micro 5.0
Total 100.00

Branches[edit]

As of September 2013, the bank maintains a network of branches at the following locations:[7]

  1. Koinange Branch - Jamii Bora House, Koinange Street, Nairobi
  2. Funzi Road Branch - Industrial Area, Funzi Road, Nairobi
  3. Ongata Rongai Branch - Ongata Rongai, Nairobi
  4. Thika Branch - Kenyatta Avenue, Thika
  5. Kikuyu Branch - Brick House, Kikuyu
  6. Kisumu Branch - Guilders Plaza, Odera Kango Street, Kisumu
  7. Kayole Branch - Kayole, Nairobi
  8. Kibera Branch - Kibera, Nairobi
  9. Banana Branch - Davekon Place, Limuru-Tigoni Road, Banana Town, Kiambu
  10. Mtwapa Branch - Mtwapa[8]
  11. Muranga Branch - Kiriti Women House, Uhuru Highway, Muranga
  12. Mombasa Branch - Southern House, Moi Avenue, Mombasa
  13. Eastleigh Branch - Super Arcade, Second Avenue, Eastleigh, Nairobi
  14. Kawangware Branch - Mbugua Plaza Junction, Kawangware, Nairobi
  15. Kariobangi Branch - Outer Ring Road, Kariobangi, Nairobi
  16. Kiongozi Branch - Jamii Bora House, First Floor, Koinange Street, Nairobi Main Branch
  17. Ngong' Road Branch - Green House, Ngong' road, Nairobi
  18. Kirinyaga Road Branch - Kirinyaga Road, Nairobi
  19. Machakos Branch - Machakos Town
  20. Kiritiri Branch
  21. Kitengela Branch

See also[edit]

References[edit]

  1. ^ Juma, Victor (13 June 2012). "Jamii Bora Shakes Up Board of Directors". Business Daily Africa. Retrieved 22 July 2014. 
  2. ^ a b c Mwita, Martin (1 July 2015). "Jamii Bora Rules Out Merger, To Raise KSh3 Billion". The Star (Kenya). Nairobi. Retrieved 4 July 2015. 
  3. ^ CBK, . "Central Bank of Kenya - Bank Supervision: Commercial Banks & Mortgage Finance Institutions". Central Bank of Kenya (CBK). Retrieved 22 July 2014. 
  4. ^ Anyanzwa, James (30 March 2010). "City Finance Buys Out Jamii Bora". The Standard (Kenya) (StandardMedia.Co.Ke). Retrieved 22 July 2014. 
  5. ^ 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. 
  6. ^ Ngigi, George (6 December 2011). "Jamii Bora Bank Targets Mid-Tier Status In Upgrade". Business Daily Africa (Nairobi). Retrieved 22 July 2014. 
  7. ^ JBB, . "Branches of Jamii Bora Bank". Jamii Bora Bank (JBB). Retrieved 22 July 2014. 
  8. ^ Mwangi, Wachira (8 September 2013). "Jamii Bora Deepens Reach With Mtwapa Branch". Business Daily Africa (Nairobi). Retrieved 22 July 2014. 

External links[edit]