Kenya Commercial Bank Group

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Kenya Commercial Bank Group
Traded as KN: KCB
Industry Banking
Founded 1896
Headquarters Kencom House, Moi Avenue
Nairobi, Kenya
Key people
Joshua N. Oigara
Chief Executive Officer
Products Credit cards, Loans, Mortgages, Investments
Revenue Increase US$396.84 Million (KES:35.95 Billion) (2014)
Increase US$186 Million (KES:16.85 Billion) (2014)
Total assets Increase US$5.41 Billion (KES:490 Billion) (2014)
Number of employees

Kenya Commercial Bank Group, also known as KCB Group, is a financial services holding company based in the African Great Lakes region. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Burundi, Rwanda, South Sudan, Tanzania and Uganda.


KCB Group is the oldest financial services firm in East Africa.[1] As of December 2012, the Group was ranked as the largest financial services organization in the African Great Lakes, with an estimated asset valuation of about US$4.36 billion (KES:367.4 billion), and shareholders' estimated at US$632.8 million (KES:53.34 billion).[2] By September 2013, the Group's total assets had increased to US$4.57 billion (KES:385.2 billion).[3]

KCB Group has the widest network of banking outlets in Eastern Africa, comprising over 222 branches and over 400 automated teller machines in Kenya, Burundi, Rwanda, South Sudan, Tanzania and Uganda.[4] In March 2011, media reports indicated that the group was pursuing expansion plans into the Democratic Republic of the Congo, Ethiopia and Zambia.[5]


The history of Kenya Commercial Bank Limited dates back to July 1896, when its predecessor, the National Bank of India opened a branch in Mombasa to handle the business that the port was attracting at that time. 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 an effort to bring banking closer to the majority of Kenyans.  In 1970, the Government acquired 100% of shareholding in the Bank to take full control of the largest commercial bank in Kenya. National and Grindlays Bank was then renamed Kenya Commercial Bank. In 1972, Kenya Commercial Bank acquired Savings & Loan Kenya Limited, which specialized in the provision of mortgage finance.

In 1988, the first 20% of the Government’s shares in the company were sold through a public offering on the Nairobi Securities Exchange.[1] The Government has over the years reduced its shareholding to 23.6%. In the rights issue of 2010, the Government further reduced its shareholding to 17.31%.

KCB Tanzania Limited was incorporated in Dar es Salaam in 1997. Since then, KCB has opened 11 more branches in Tanzania. In May 2006, KCB extended its operations to Southern Sudan following licensing of KCB Sudan. This subsidiary now has over 20 branches in Southern Sudan. In November 2007, KCB Bank Uganda Limited was opened. KCB currently has 14 branches in Uganda. In December 2008, KCB Rwanda began operations with one branch at Kigali. There are currently 11 branches spread out in the country. In 2012, KCB registered a subsidiary in Burundi, KCB Burundi; becoming the first bank in the region to be presented in all the African Great Lakes countries.

Prior to 2015, KCB was both a licensed bank and a holding company for its subsidiaries. In compliance with the Kenya Finance Act No.57 of 2012, KCB Group announced in April 2015 of 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 into a non-trading holding company that owns both banking and non-banking subsidiary companies.[6]


The Shares of Kenya Commercial Bank Group are listed on the Nairobi Stock Exchange (NSE), under the symbol "KCB". The Group's stock is also cross listed on the Dar es Salaam Stock Exchange (DSE), the Rwanda Stock Exchange (RSE) and the Uganda Securities Exchange.

As at December 31, 2014, the major shareholders were as follows:[1]

Kenya Commercial Bank Group stock ownership
Rank Name of Owner Percentage Ownership
1 Government of Kenya 17.31
2 National Social Security Fund 7.52
3 Others 75.17
Total 100.00


The Chairman of the bank's board of directors is Peter Muthoka and the managing director and the chief executive officer of the bank is Joshua Oigara.[7]

Member Companies[edit]

The companies that comprise the KCB Group include but are not limited to the following:[8]

The stock of KCB Group is traded on the Nairobi Stock Exchange. The stock is cross listed on the Uganda Securities Exchange, the Rwanda Stock Exchange and on the Dar es Salaam Stock Exchange under the symbol KCB.[7]

KCB Branches[edit]

KCB Subsidiary No. of Branches
KCB Burundi 2
KCB Kenya 175
KCB Rwanda 11
KCB South Sudan 20
KCB Tanzania 11
KCB Uganda 14

Kenya Commercial Bank Plaza[edit]

In December 2010, construction of a new headquarters building began in the Upper Hill section of Nairobi. Construction is expected to take approximately two years, with anticipated occupancy beginning in January 2013. The new Kenya Commercial Bank Plaza (KCB Plaza), will consist of twenty-one (21) storeys, comprising about 171,800 square feet (15,960 m2), of rentable office space, and enough parking for about four hundred fifty cars. The owners of the building are the Kenya Commercial Bank Employee Pension Fund, who are funding the US$26 million (KES:2.1 billion) construction.[10]


KCB owns a sports club, that has teams in Kenyan association football, rugby union, volleyball and basketball leagues. Since 2003 Kenya Commercial Bank has been sponsoring the Safari Rally – East Africa Rally Championships ( which consists of the Kobil rally in Tanzania, Pearl of Africa in Uganda and the Safari Rally in Kenya) and the Kenya National Rally Championship which consists of eight series throughout the year.

See also[edit]


External links[edit]