en     ru     jp
 
 
    LOGIN HERE!  
Add privatebanking.com as a search provider to your browser  
 
Advanced Search  
Private Banking & Wealth Management search tool 
     
  Search entity  
 
 
Home
      
Africa
      
Kenya
      
Kisumu
      
Banks
      
Kenya Commercial Bank Ltd (KCB)
       
 
Back
 
   
Review Avg.
Reviews: 0
 
Contact Page
Additional information
Write Review
Browse Review

 
Additional information
 
Kenya Commercial Bank Ltd (KCB)
 
 
History: 

The history of KCB dates back to 1896 when its predecessor, the National Bank of India opened an outlet in Mombasa. Eight years later in 1904, the Bank extended its operations to Nairobi, which had become the Headquarters of the expanding railway line to Uganda.

The next major change in the Bank’s history came in 1958. Grindlays Bank merged with the National Bank of India to form the National and Grindlays Bank.

Upon independence the Government of Kenya acquired 60% shareholding in National & Grindlays Bank in an effort to bring banking closer to the majority of Kenyans.  In 1970, the Government   acquired 100% of the shares to take full control of the largest commercial bank in Kenya. National and Grindlays Bank was renamed Kenya Commercial Bank.

In 1972, Savings & Loan (K) Ltd was acquired to specialize in mortgage finance.

In 1997, another subsidiary, Kenya Commercial Bank (Tanzania) Limited was incorporated in Dar-es-Salaam, Tanzania to provide banking services and promote cross-border trading.  Since then, the subsidiary has 11 branches.

In pursuit of its Vision: To be the preferred financial solutions provider in Africa with a global reach by 2013, in May 2006 KCB extended its operations to Southern Sudan to provide conventional banking services. The subsidiary has 11 branches.

The latest addition into the KCB Family came in November, 2007 with the opening of KCB Bank Uganda Limited which has 13 branches. In December 2008 KCB Rwanda began operations and has seven branches spread out in the country.  

The Government has over the years reduced its shareholding to 35% and more recently to 26.2% following the rights issue exercise in 2004, which raised KShs 2.45 billion in additional capital for the bank.

In the second Rights Issue exercise held in the year 2008, the Government further reduced its shareholding to 23.1% after raising additional capital for Kshs 5.5billion.
In the third Rights Issue exercise held in 2010, the government further reduced its shareholding to 17.74% after raising additional capital for kshs 12.5billion.


 
 
Back
 
 

Privatebanking.com
Get the attention you always wanted and promote your corporate image and standing by benefiting from our state of the art interactive web presence.
    Privatebanking.com
   
  Read more  
 
Ascent Limited
Experience The Difference. Ascent Limited provides first class wealth management and family office services. Our private banking team, assembled from a group of highly experienced banking professionals, will provide financial advice tailored to your individual requirements and keep your portfolio in tune with the latest market developments and opportunities.
    Ascent Limited
   
  Read more  
 
 
Home News Library Newsletters Event Calendar Advertise About Contact FAQ
Privacy Policy     Terms of Service
 

©