National Bank of Kenya
|Traded as||KN: NBK|
|Mohamed A. Hassan
Munir Sheikh Ahmed
|Products||Loans, Savings, Checking, Investments, Debit Cards, Credit Cards|
|Revenue||Aftertax:US$12.6 million (KES:1.090 billion) (2013)|
|Total assets||US$1.07 billion (KES:92.5 billion) (2013)|
Number of employees
National Bank of Kenya (NBK), also known as National Bank, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank, and national banking regulator.
NBK is a large financial services provider in Kenya, serving individuals, small-to-medium companies and businesses (SMEs) and large corporations. Headquartered in Nairobi, the bank owns one subsidiary company: NatBank Trustee and Investment Services Limited. As of December 2013[update], National Bank of Kenya's asset base was valued at approximately US$1.07 billion (KES:92.5 billion), with shareholders' equity valued at about US$137.2 million (KES:11.85 billion). At that time, National Bank of Kenya was ranked number eleven, by assets, among the forty-three commercial banks licensed in the country then. The stock of National Bank of Kenya is listed on the Nairobi Stock Exchange, where it trades under the symbol: NBK.
The bank was established in 1968 as a 100% government-owned financial institution. In 1994, the Kenyan Government reduced its shareholding to 68% by selling 32% shareholding to the public. The government further divested from NBK over the years, until its present shareholding of 22.5%, as of August 2014. Following 12 years of poor financial performance, the bank became profitable again in 2010, paying out an annual dividend every year since.
The bank owns the following subsidiary companies in which it has 100% shareholding
- Natbank Trustee and Investment Services Limited: Nairobi,
- Kenya National Capital Corporation Limited: Nairobi,
- NBK Insurance Agency Limited: Nairobi,
|Rank||Name of Owner||Percentage Ownership|
|1||National Social Security Fund (Kenya)||48.05|
|2||Kenya Ministry of Finance||22.50|
|3||NIC Custodial Services||0.41|
|4||Equity Nominee Limited:00084||0.37|
|5||Equity Nominee Limited:00111||0.34|
|6||Standard Chartered Nominees:9098AJ||0.34|
|7||Ephraim Mwangi Maina||0.33|
|8||Craysell Investments Limited||0.32|
|9||Jubilee Insurance Company of Kenya Limited||0.29|
|10||David Mwangi Ndegwa||0.25|
|11||Over 49,200 Other Investors||26.79|
- NBK, . "National Bank of Kenya: The Board of Directors". National Bank of Kenya (NBK). Retrieved 6 August 2014.
- News, . (7 June 2012). "National Bank of Kenya Gets New Boss To Replace Marambii". Daily Nation (Nairobi). Retrieved 6 August 2014.
- Munda, Constant (27 March 2014). "Kenya: National Bank to Shed Off Staff to Reduce Wage Bill". The Star (Nairobi). Retrieved 6 August 2014.
- CBK, . "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 6 August 2014.
- NBK, . "Abridged, Audited 31 December 2013 Financial Statement" (PDF). National Bank of Kenya (NBK). Retrieved 6 August 2014.
- Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. Retrieved 6 August 2014.
- NSE, . "Nairobi Securities Exchange: Listed Companies". Nairobi Securities Exchange (NSE). Retrieved 6 August 2014.
- NBK, . "History of National Bank of Kenya". National Bank of Kenya (NBK). Retrieved 6 August 2014.
- Munda, Constant (28 March 2014). "National Bank of Kenya Shareholders Receive Dividend Raise". The Star (Nairobi). Retrieved 6 August 2014.
- NBK, . (March 2014). "National Bank of Kenya Audited 31 December 2013 Annual Report: List of 10 Largest Shareholders" (PDF). National Bank of Kenya (NBK). Retrieved 6 August 2014.
- Official website
- Central Bank of Kenya website
- Profile at myStocks
- National Bank Sale To Investor Dropped In New Funding Plan