Oriental Commercial Bank

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Oriental Commercial Bank
Private
Industry Financial Services
Founded 2002
Headquarters Nairobi, Kenya
Key people
Shanti Shah, Chairman
R.B.Singh, Managing Director & CEO
Products Checking, Savings, Investments, Debit Cards
Revenue Increase Aftertax: US$1.62+ million (KES:139.97 million) (2013)
Total assets US$81.14 million (KES:7.01 billion) (2013)
Website Homepage

Oriental Commercial Bank (OCB), whose full name is Oriental Commercial Bank 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] The bank was established in its present form in 2002, according to its website.

Overview[edit]

OCB is a small retail bank in Kenya. As of December 2013, the bank's total assets were about US$81.14 million (KES:7.01 billion), with shareholders' equity of about US$17.66 million (KES:1.524+ billion).[2] At that time, the bank was ranked number 40, by assets, out of 43 licensed commercial banks in the country.[3]

Ownership[edit]

In May 2015, a group of Tanzanian investors, who are also shareholders in Bank M, received Kenyan regulatory approval to purchase 51 percent shareholding in OCB. This marks the first time that Tanzanians have become the majority shareholders in a Kenyan financial institution. The acquisition will further lead to OCB changing its name to M-Oriental Bank.[4] After the transaction is consummated, the shareholding in the bank is expected to look as depicted in the table below:[4]

Oriental Commercial Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 M Holdings Limited 51.0
2 Other Shareholders 49.0
Total 100.00

Branch network[edit]

The bank maintains a network of branches at the following locations: [5]

  1. Westlands Branch - Apollo Centre, 2nd Floor, Ring Road, Westlands, Nairobi
  2. Koinange Street Branch - Finance House, Ground Floor, Koinange Street, Nairobi
  3. Nakumatt Mega Branch - Nakumatt Mega Store, Uhuru Highway, Nairobi
  4. Thika Road Mall Branch - Thika Super Highway, Thika Road, Nairobi
  5. Mombasa Branch - HassanAli Building, Nkurumah Road, Mombasa
  6. Nakuru Branch - AFC Building, Kijabe Row, Nakuru
  7. Eldoret Branch - Muya House, Kenyatta Street, Eldoret
  8. Kitale Branch - Robert Ouko Road, Kitale.

Governance[edit]

The bank is governed by a six-person board of directors. Shanti Shah, one of the non-executive directors, serves as the chairman of the board. The managing director and chief executive officer is R. B. Singh.[6]

See also[edit]

References[edit]

  1. ^ CBK, . "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 5 August 2014. 
  2. ^ OCB, . (30 April 2014). "Audited 31 December 2013 Financial Statement" (PDF). OrientalBank.Co.Ke (OCB). Retrieved 5 August 2014. 
  3. ^ Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. Retrieved 5 August 2014. 
  4. ^ a b "Oriental Commercial Bank Limited - Notice of Annual General Meeting" (PDF). Oriental Commercial Bank Limited. Retrieved 2015-06-23. 
  5. ^ OCB, . "The Branch Network of Oriental Commercial Bank". Oriental Commercial Bank (OCB). Retrieved 5 August 2014. 
  6. ^ OCB, . "The Board of Directors of Oriental Commercial Bank". Oriental Commercial Bank (OCB). 

External links[edit]