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 |  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.
Contents
Overview
OCB is a small retail bank in Kenya. As of December 2013[update], 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
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]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | M Holdings Limited | 51.0 |
| 2 | Other Shareholders | 49.0 |
| Total | 100.00 |
Branch network
The bank maintains a network of branches at the following locations: [5]
- Westlands Branch - Apollo Centre, 2nd Floor, Ring Road, Westlands, Nairobi
- Koinange Street Branch - Finance House, Ground Floor, Koinange Street, Nairobi
- Nakumatt Mega Branch - Nakumatt Mega Store, Uhuru Highway, Nairobi
- Thika Road Mall Branch - Thika Super Highway, Thika Road, Nairobi
- Mombasa Branch - HassanAli Building, Nkurumah Road, Mombasa
- Nakuru Branch - AFC Building, Kijabe Row, Nakuru
- Eldoret Branch - Muya House, Kenyatta Street, Eldoret
- Kitale Branch - Robert Ouko Road, Kitale.
Governance
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
References
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External links
- Website of Oriental Commercial Bank
- Website of Central Bank of Kenya
- Oriental Commercial Bank Limited Opened Its 8th Branch In Mombasa
- Dar Owners In KSh1.3 Billion Oriental Deal
