Middle East Bank (Kenya)

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Middle East Bank Kenya
Industry Financial services
Founded 1981
Headquarters Mebank Tower
Milimani Street
Nairobi, Kenya
Key people
A.A.K. Esmail
Chairman
Dhirendra Rana
Managing Director
Revenue US$513,500 (KES:44.342 million) (2012)
Total assets US$70 million (KES:5.87 billion) (2012)
Website Homepage

Middle East Bank Kenya (MEBK), whose full name is Middle East Bank Kenya Limited, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya (CBK), the central bank and national banking regulator.[1]

Overview[edit]

The bank is a small but growing retail bank, that focuses on meeting the needs of large corporations and high-net-worth individuals. As of December 2013, the bank was ranked number 41, by assets, out of a total of 43 commercial banks in Kenya.[2] As of December 2012, the bank's total assets were valued at about US$70 million (KES:5.87 billion), with shareholders' equity of approximately US$13 million (KES:1.124 billion).[3]

History[edit]

Middle East Bank Kenya started operations in Kenya in August 1981, after receiving a banking licence from the Central Bank of Kenya, the national banking regulator. The initial shareholders in the bank were the Al-Futtaim Group, affiliated with the Middle East Bank Group of United Arab Emirates. In 1991, the Al-Futtaim Group divested from the bank, leaving shareholding in Kenyan hands. In 1995, Banque Belgolaise, a Belgian financial institution acquired 25% shareholding in Middle East Bank Kenya, becoming the single largest shareholder. As a result of multiple bank mergers and acquisitions, that 25% shareholding subsequently came to be owned by BNP Paribas Fortis. 75% shareholding remains in private Kenyan hands.[4]

Ownership[edit]

The shares of stock of Meddle East Bank Kenya are privately held. The largest single shareholder, with 25% shareholding, is BNP Paribas Fortis, a Belgian financial services provider that is a subsidiary of BNP Paribas, a French banking conglomerate that is the largest banking group in the world. Shareholding in Meddle East Bank is depicted in the table below:


Middle East Bank Kenya Stock Ownership
Rank Name of Owner Percentage Ownership
1 BNP Paribas Fortis of Belgium 25.00
2 Institutional and Individual Kenyan Investors 75.00
Total 100.00

Branch network[edit]

As of August 2010, the bank maintains its headquarters in Nairobi, Kenya's capital and largest city. It has three branches; two in Nairobi and another in Mombasa, Kenya's second-largest city.[5]

  • Main Branch – Mebank Tower, Milimani Road, Nairobi
  • Industrial Area Branch – Butere Road, Off Dar es Salaam Road, Nairobi
  • Mombasa Branch – Nyerere Avenue, Mombasa

See also[edit]

References[edit]

  1. ^ CBK, . "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 6 August 2014. 
  2. ^ Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. Retrieved 6 August 2014. 
  3. ^ MEBK, . "Audited Financial Statements And Other Disclosures As At 31 December 2012". Middle East Bank Kenya (MEBK). Retrieved 6 August 2014. 
  4. ^ MEBK, . "History of Middle East Bank Kenya". Middle East Bank Kenya (MEBK). Retrieved 6 August 2014. 
  5. ^ MEBK, . "The Branches of Middle East Bank Kenya". Middle East Bank Kenya (MEBK). Retrieved 6 August 2014. 

External links[edit]