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 KCB Bank Moi Avenue branch | |
| Company type | Subsidiary ofKCB Group |
|---|---|
| Industry | Banking |
| Founded | 2015; 10 years ago (2015) |
| Headquarters | Kencom House, Moi Avenue,Nairobi, Kenya and KCB Plaza, Upperhill,Nairobi, Kenya |
Number of locations | 207 branches, 399 ATMs, 12,724 agents, 8023 merchant outlets[1] (2020[1]) |
Key people | Lawrence Njiru (chairman) Annastacia Kimtai (CEO[2] |
| Products | Loans, credit cards,savings, investments,mortgages, insurance |
| Revenue |  : Aftertax: US$166.3 million (KES:18.3 billion) (2020)[1] |
| Total assets | US$6.9 billion+ (KES:758.3 billion) (2020)[1] |
Number of employees | 4901[1] |
| Parent | KCB Group |
| Rating | B2 negative (2020) (Moodys Investor Service)[1] |
| Website | ke |
KCB Bank Kenya Limited is a financial services provider headquartered inNairobi,Kenya. It is licensed as a commercial bank, by theCentral Bank of Kenya, the national banking regulator.[3] The bank has also been running anagency banking model.[4]
As of December 2015, KCB Bank Kenya was the largestcommercial bank in Kenya, with assets of more than US$3.681 billion (KES:366 billion) and US$2.776 billion (KES:276 billion) in customer deposits.[5] In August 2021, the bank recorded a customer deposit growth to USD$5.47 billion (KES:601.7 billion) and had an asset base value of USD$7.09 billion (KES:7.09 billion). During that time, it had 201 branches, 397 ATMs, and registered 15,273 agents and merchant outlets spread across Kenya.
KCB Bank Kenya began in July 1896 when its parent company, KCB Group, was formed as a branch of theNational Bank of India in Mombasa. In 1958,Grindlays Bank merged with the National Bank of India to form theNational and Grindlays Bank. Upon independence, thegovernment of Kenya acquired 60% shareholding in National & Grindlays Bank. In 1970, the government took full control of the bank and renamed it to Kenya Commercial Bank Group.[6]
KCB Bank Kenya, as it is now known, was incorporated in 2015 as a result of the corporate restructure of Kenya Commercial Bank Group (KCB Group). Prior to 2015, KCB Group was both a licensed bank and a holding company for its subsidiaries.[6] This was in compliance with the Kenya Finance Act No.57 of 2012. KCB Group Limited announced, in April 2015, its intention to incorporate a new wholly owned subsidiary, KCB Bank Kenya Limited, to which it would transfer its Kenyan banking business, assets and liabilities. The re-organisation converted KCB Group Limited into a non-trading holding company that owns both banking and non-banking subsidiary companies.[6]
In 2016, KCB Group PLC was registered as a non-operating holding company to manage and oversee all KCB regional units in Kenya,Tanzania,South Sudan,Uganda,Rwanda,Burundi and Ethiopia.[7] In 2019, KCB Group PLC acquiredNational Bank of Kenya.[8]
KCB Bank Kenya Limited is a 100 percent subsidiary of KCB Group. Shares ofKCB Group are listed on theNairobi Stock Exchange (NSE), under the symbol (KCB). The group's stock is also cross listed on theUganda Securities Exchange (USE), theRwanda Stock Exchange (RSE) and theDar es Salaam Stock Exchange (DSE).[9]
KCB Bank Kenya Limited is a member of theKCB Group of companies. KCB Group companies include:[10][11]
As of August 2021, KCB Group had a total of 354 branches, 1,103 ATMs, and 15,273 bank agents and merchant outlets throughout all of its subsidiaries. It has the largest number of own-branded ATMs in Kenya. At that time, the Group had 26.8 million customers, making it the largest in the region.[12]
The chairman of the KCB Group board of directors is FCS Dr. Joseph Kinyua,[13] and the chief executive officer and managing director of the group is Paul Russo.[14]
Authority control databases: National |
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