Credit Bank
| Private | |
| Industry | Financial Services |
| Founded | 1986 |
| Headquarters | Nairobi, Kenya |
|
Key people
|
Simeon Nyachae Chairman Chege Thumbi Managing Director |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Revenue |  Aftertax:US$122,320 (KES:12.3 million) (H1:2015)[1] |
| Total assets | US$90.5 million (KES:9.1 billion) (2015) |
|
Number of employees
|
170 (2014)[2] |
| Website | Homepage |
Credit Bank Limited (CBL), commonly referred to as Credit 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.[3]
Overview
The bank is a small-sized commercial bank in Kenya, East Africa's largest economy. Prior to 2010, the bank's focus was large corporations and upscale businesspeople. In September 2010, Credit Bank changed strategy and transformed into a retail bank, serving all segments of society and their businesses. As of December 2015[update], Credit Bank's total assets were valued at approximately US$90.5 million (KES:9.1 billion). At that time, the bank was ranked number 38, by assets, out of the 43 licensed commercial banks in Kenya.[1]
History
The bank was founded in 1986, as a non-bank financial institution (NBFI); Credit Kenya Limited. In 1995, the institution was awarded a commercial banking license and it rebranded to Credit Bank Limited.[4]
Ownership
As at January 2016, the shares of stock of Credit Bank are privately owned by corporate and individual investors, including the following:[1] In January 2016, Fountain Enterprises Programme Group (FEP) announced plans to acquire a controlling 75 per cent stake in Credit Bank for KSh4 billion (approx. US$40 million), pending approval of the Central Bank of Kenya.[5]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Companies affiliated with Simeon Nyachae | |
| 2 | Ketan Morjaria | 16.20 |
| 3 | Jay Karia | 08.01 |
| 4 | Fountain Enterprises Programme Group (FEP) | 05.00 |
| 5 | Others | |
| Total | 100.00 |
Branches
The bank maintains networked branches at the following locations:[6]
- Main Branch - Mercantile House, Koinange Street, Nairobi
- Westland Branch - Empress Plaza, Ring Road, Westlands, Nairobi
- Industrial Area Branch - 53 Butere Road, Industrial Area, Nairobi
- Lavington Branch - Lavington Mall, James Gichuru Road, Lavington, Nairobi
- Kisumu Branch - Swan Centre, Oginga Odinga Road, Kisumu
- Nakuru Branch I - Giddo Plaza, Eldoret-Nakuru Highway, Nakuru
- Nakuru Branch II - Polo Centre, Kenyatta Avenue, Nakuru
- Kisii Branch - Hospital Road, Kisii
- Eldoret Branch - Zion Mall, Uganda Road, Eldoret
- Ongata Rongai Branch - Maasai Mall, Magadi Road, Ongata Rongai
- Machakos Branch - Mbolu-Malu Road, Machakos
- Thika Branch - Second Floor, Biashara Plaza, Maama Ngina Street, Thika
- Nyali Branch - Nyali Centre, Link Road, Nyali
See also
References
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External links
- Website of Central Bank of Kenya
- Website of Credit Bank Limited
- Nyachae-linked bank seeks Sh5.4 billion diaspora buyout
