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Prime Bank (Kenya)

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Prime Bank Kenya Limited
Company typePrivate company
IndustryFinancial Services
FoundedSeptember 3, 1992; 31 years ago (1992-09-03)
HeadquartersNairobi, Kenya
Key people
R.C. Kantaria (Chairman), Bharat Jani (Managing Director)
ProductsLoans, Transaction accounts, Savings, Internet banking, Mobile banking, Investments, Debit Cards
RevenueIncrease Aftertax:KES:2.122 Billion (US$21.335 Million) (2017)[1]
Total assetsKES:77.998 Billion (US$784.215 Million) (2017)[1]
Websitewww.primebank.co.ke

Prime Bank Kenya (PBKL) is a commercial bank in Kenya, licensed and supervised by the Central Bank of Kenya 🇰🇪 (CBK), the central bank and national banking regulator.[2]

The bank is a mid-sized retail bank that caters to both individuals and corporate clients. As of December 2017, the bank's total asset base was valued at KES:77.998 Billion (US$784.215 Million), with shareholders' equity of KES:14.672 Billion (US$147.518 Million).[1]

As at July 2018, Prime Bank was the 15th largest commercial bank in Kenya, out of a total of 39 lenders, based on total assets. At that time, the bank had 24,000 deposit accounts and 4,000 loan accounts, with a market share of 1.82 percent, according to data provided CBK.[3]

Subsidiaries

The bank has three subsidiaries: (a) Prime Capital & Credit Limited (PCCL) – Based in Nairobi, Kenya is owned 100% by Prime Bank (Kenya) (b) First Merchant Bank – A retail bank based in Blantyre, Malawi – Prime Bank (Kenya) has a 22.48% shareholding in First Merchant Bank. 11.24% is held directly by PBKL while the remaining 11.24% is held through its 100% subsidiary, PCCL.[4] and (c) Capital Bank – A commercial bank based in Gaborone, Botswana, is 51% owned by First Merchant Bank of Malawi, in which Prime Bank (Kenya) has 22.48% shareholding. Therefore, Prime Bank (Kenya) owns 11.46% of Capital Bank of Botswana.

Branch network

As of July 2018, the bank maintained a network of more than 20 interconnected branches in Kenya's major urban centers.[3]

Ownership

The stock of the bank is privately held. The detailed shareholding in Prime Bank (Kenya) is not publicly known.[3]

See also

References

  1. ^ a b c Prime Bank (31 December 2017). "Audited Financial Statements And Other Disclosures As At 31 December 2017" (PDF). Nairobi: Prime Bank Kenya. Retrieved 30 July 2018.
  2. ^ Central Bank of Kenya (31 May 2018). "Central Bank of Kenya: Directory of Licensed Commercial Banks, Mortgage Finance Institutions And Authorised Non-Operating Holding Companies" (PDF). Nairobi: Central Bank of Kenya. Retrieved 30 July 2018.
  3. ^ a b c Ngugi, Brian (30 July 2018). "Prime Bank in talks for sale of stake after Sh2 billion capital boost". Business Daily Africa. Nairobi. Retrieved 30 July 2018.
  4. ^ First Merchant Bank (30 March 2017). "Top Shareholders of First Merchant Bank of Malawi As of 30 March 2017". Blantyre: First Merchant Bank of Malawi. Retrieved 30 July 2018.
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