Middle East Bank (Kenya)
|Revenue||US$513,500 (KES:44.342 million) (2012)|
|Total assets||US$70 million (KES:5.87 billion) (2012)|
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.
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[update], the bank was ranked number 41, by assets, out of a total of 43 commercial banks in Kenya. As of December 2012[update], 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).
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.
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:
|Rank||Name of Owner||Percentage Ownership|
|1||BNP Paribas Fortis of Belgium||25.00|
|2||Institutional and Individual Kenyan Investors||75.00|
As of August 2010[update], 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.
- Main Branch – Mebank Tower, Milimani Road, Nairobi
- Industrial Area Branch – Butere Road, Off Dar es Salaam Road, Nairobi
- Mombasa Branch – Nyerere Avenue, Mombasa
- CBK, . "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 6 August 2014.
- Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. Retrieved 6 August 2014.
- MEBK, . "Audited Financial Statements And Other Disclosures As At 31 December 2012". Middle East Bank Kenya (MEBK). Retrieved 6 August 2014.
- MEBK, . "History of Middle East Bank Kenya". Middle East Bank Kenya (MEBK). Retrieved 6 August 2014.
- MEBK, . "The Branches of Middle East Bank Kenya". Middle East Bank Kenya (MEBK). Retrieved 6 August 2014.