Sidian Bank

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Sidian Bank
Industry Financial Services
Founded 1984
Headquarters Nairobi, Kenya
Key people
James Mworia
Titus Karanja[1]
Managing Director
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue Increase Aftertax: US$3.722 million (KES:372.3 million) (2015)[2]
Total assets US$191.83 million (KES:19.11 billion) (2015)[3]
Number of employees
590+ (2016)[4]
Parent Centum Investment
Website Homepage

Sidian Bank, formerly known as K-Rep Bank, is a commercial bank in Kenya, licensed by the Central Bank of Kenya, the national banking regulator.[5]


The headquarters of Sidian Bank are located at K-Rep Centre, on Wood Avenue, in Kilimani, a neighborhood in Nairobi, the capital and largest city in Kenya.[6] The coordinates of the bank's headquarters are: 01°17'26.0"S, 36°47'10.0"E (Latitude:-1.290556; Longitude:36.786112).[7]


The bank is a medium-sized financial services provider, serving the urban and rural poor and small-to-medium business enterprises in Kenya.[8] As of December 2015, the total assets of the bank were valued at about US$191.83 million (KES:19.11 billion), with shareholders' equity of approximately US$38.52 million (KES:3.84 billion).[3] As of April 2016, the bank customer base exceeded 300,000. The name Sidian is derived from Obsidian, an extrusive igneous rock.[9]


Sidian Bank was founded in 1984 as K-Rep Bank. In the beginning, the organization provided grants and technical assistance to non-governmental organizations (NGO). The NGOs then made loans to micro-enterprises.

In 1989, K-Rep changed its strategy to lending to the NGOs. The technical assistance that had been provided for free now attracted a fee.

In 1999, K-Rep re-organized itself into four entities:[10]

  1. K-Rep Group – This is the parent company. It owns, either wholly or partially, the other three subsidiaries.
  2. K-Rep Development Agency – This agency carries out research and developmental assistance work for the group
  3. K-Rep Advisory Services – This company provides consultancy services for a fee.

In 2015, Centum Investment Company completed its acquisition of a majority stake in the bank.[11] The bank later changed its name from K-Rep Bank to Sidian Bank in April 2016.[12]


On 4 April 2016, K-Rep bank re-branded as Sidian Bank, to reflect the majority shareholding by Centum Investments Limited.[13] As at 31 August 2016, the major shareholders in the bank stock included the following:[14]

Sidian BankStock Ownership
Rank Name of Owner Percentage Ownership
1 Bakii Holdco Limited1 74.00
2 K-Rep Group2 17.10
3 KWA Multi-Purpose Co-operative Society 4.90
3 Other Investors 4.00
Total 100.00

1 - Bakii Holdco Limited is a Non-Operating Holding Company and a wholly owned subsidiary of Centum Investments. This is in accordance with the CBK Banking Act and Prudential Guidelines.[14]
2 - K-Rep Group are the entities that founded K-Rep Bank in 1984.[14]


The chairman of the seven-person board of directors is James Mworia, one of the non-executive directors. Titus Karanja serves as the managing director.[1]

See also[edit]


  1. ^ a b Capital FM Correspondent (23 June 2015). "Kenya: K-Rep Bank Appoints New Managing Director". Nairobi: 98.4 Capital FM via Retrieved 24 June 2015. 
  2. ^ Ngigi, George (29 March 2016). "K-Rep Bank net profit drops 27.5pc as funding costs go up". Business Daily Africa. Nairobi. Retrieved 29 March 2016. 
  3. ^ a b Sidian Bank (31 December 2015). "Audited Financial Statements And Other Disclosures As At 31st December 2015" (PDF). Sidian Bank (K-Rep Bank). Retrieved 30 July 2016. 
  4. ^ Mutegi, Mugambi (24 July 2016). "Sidian head hunts Chase staff to drive SME unit". Business Daily Africa. Nairobi. Retrieved 25 July 2016. 
  5. ^ CBK. "Central Bank of Kenya: Commercial Banks & Mortgage Finance Institutions". Nairobi: Central Bank of Kenya (CBK). Retrieved 31 July 2014. 
  6. ^ Sidian Bank (24 October 2016). "Sidian Bank: Contact Us". Nairobi: Sidian Bank. Retrieved 24 October 2016. 
  7. ^ Google (24 October 2016). "Location of the Headquarters of Sidian Bank, Kilimani, Nairobi, Kenya" (Map). Google Maps. Google. Retrieved 24 October 2016. 
  8. ^ Michira, Moses (21 October 2010). "Private Financiers See Potential In SMEs". Business Daily Africa. Nairobi. Retrieved 31 July 2014. 
  9. ^ Ngugi, Brian (4 April 2016). "Sidian Bank's minority investors to provide Sh400m capital". Business Daily Africa. Nairobi. Retrieved 5 April 2016. 
  10. ^ MCU (25 January 2012). "MicroCapital Universe: K-Rep Bank". MicroCapital.Org (MCU). 
  11. ^ Mwaniki, Charles (20 May 2015). "Centum To Inject KSh1.2 Billion Bond Proceeds Into K-Rep Bank". Business Daily Africa. Nairobi. Retrieved 21 May 2015. 
  12. ^ "Sidian Bank - About us". Sidian Bank Limited. Retrieved 2016-04-02. 
  13. ^ Mutegi, Mugambi (27 March 2016). "K-Rep Bank plans name change as it seeks to shed microfinance image". Business Daily Africa. Nairobi. 
  14. ^ a b c Herbling, David (31 August 2016). "Centum raises stake in Sidian Bank to 74 percent after rights issue". Business Daily Africa. Nairobi. Retrieved 31 August 2016. 

External links[edit]

Coordinates: 01°17′26″S 36°47′10″E / 1.29056°S 36.78611°E / -1.29056; 36.78611