Consolidated Bank of Kenya

Last updated

Consolidated Bank of Kenya
Type Parastatal
Industry Financial services
Founded7 December 1989;33 years ago (1989-12-07)
Headquarters Nairobi, Kenya
Key people
Dr. Charles Wanjala Iyaya
Chairman
Thomas Kipkemei Kiyai
C.E.O
ProductsLoans, Checking, Savings, Investments, Debit Cards
RevenueIncrease2.svg: After tax: US$2.092 million (KES:211.3 million) (2016)
Total assets US$136.2 million (KES: 13.9 billion) (2016)
Website consolidated-bank.com

Consolidated Bank of Kenya commonly known as Consolidated Bank, is a commercial bank in Nairobi, Kenya, East Africa's largest economy. It is licensed by the Central Bank of Kenya. [1]

Contents

Overview

Consolidated Bank is a medium-sized financial services provider in Kenya, focusing on meeting the banking needs of small and medium-sized enterprises in the country. As of December 2017, the Bank's total asset valuation stood at about US$133.6 million (KES: 13.5 billion), with Shareholders' Equity valued at about US$10.5 million (KES: 1.06 billion). As at December 2017, the Bank was rated number 33, by assets, out of 40 licensed banks in Kenya.

History

The Bank was incorporated in 1989, as a result of the merger of the following nine insolvent financial institutions: [2]

  1. Jimba Credit Corporation Limited
  2. Union Bank of Kenya Limited
  3. Kenya Savings and Mortgages Limited
  4. Estate Finance Company of Kenya Limited
  5. Estate Building Society
  6. Business Finance Company Limited
  7. Citizen Building Society
  8. Nationwide Finance Company Limited
  9. Home Savings and Mortgages Limited

Consolidated Bank aims to meet the banking needs of both individuals and institutions. In the beginning, the institution was limited to collecting the debts of the failed legacy financial institutions. However, the Central Bank of Kenya, issued CBKL with a full commercial banking license in 2001. [3]

With decades of banking experience and a special focus on small and medium-sized enterprises, it is in a strong position to help growing businesses unlock their potential and sail through the complexities they may face.

Banking services include current accounts, savings accounts, fixed and call deposits, loan and overdraft facilities, local and overseas money transfer services, and local and international trade finance. The bank is also active on the local inter-bank money market.

Ownership

Consolidated Bank is fully owned by the Government with the majority shareholding in the Bank (85.8%) held by the National Treasury. The remaining shareholding is spread over twenty five (25) parastatals and other quasi government organizations as set out below.

Consolidated Bank Stock Ownership
RankName of OwnerPercentage Ownership
1 National Treasury 85.8
2 National Social Security Fund 5.0
3Kenya National Assurance 20012.4
4Kenya National Assurance Company Limited1.9
5 Kenya Pipeline Company Limited 1.6
6 Kenya National Examination Council 1.5
7Kenya Public Trustees1.5
8 Kenya Posts and Telecommunications Corporation 1.4
9 National Hospital Insurance Fund 1.3
10Kenya Local Government Officers Superannuation Fund1.1
11Other Shareholders4.4
Total100.00

As of December 2018, Consolidated Bank maintains 17 branches in urban areas of Kenya.

See also

Related Research Articles

Spire Bank, formerly known as Equatorial Commercial Bank(ECB), 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.

Diamond Trust Bank Group, in short DTB Group, is an African banking group active in Burundi, Kenya, Tanzania, and Uganda. The flagship company of the group, Diamond Trust Bank Kenya, is licensed by the Central Bank of Kenya, the central bank and national banking regulator in Kenya, the largest economy in the East African Community.

<span class="mw-page-title-main">I&M Bank Limited</span> Commercial bank in Kenya

I&M Bank Kenya Limited, 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.

Guaranty Trust Bank (Kenya) Ltd, commonly referred to as GTBank Kenya, is a commercial bank in Kenya and a subsidiary of the Nigerian Guaranty Trust Bank Plc. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.

<span class="mw-page-title-main">National Bank of Kenya</span> Commercial bank in Kenya

National Bank of Kenya (NBK), also known as National 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. Effective September 2019, the bank is a wholly owned subsidiary of the Kenya Commercial Bank Group.

Family Bank Limited (FBL), commonly known as Family 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.

Sidian Bank, formerly known as K-Rep Bank, is a commercial bank in Kenya, licensed by the Central Bank of Kenya, the national banking regulator.

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.

SBM Bank (Kenya) Limited, previously known as Fidelity 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, the country's central bank and national banking regulator.

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

Housing Finance Company Limited, commonly referred to as Housing Finance, is a commercial bank in Kenya, regulated by the Central Bank of Kenya, the central bank and national banking regulator. HFC is major mortgage lender in Kenya and was the second-largest in the market with KSh33.7 billion in mortgage loans, as of December 2019. At that time, Kenya Commercial Bank, the largest mortgage lender in the country had KSh64.3 billion in mortgage loans.

Development Bank of Kenya is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.

Imperial Bank Limited commonly known as Imperial Bank, is a commercial bank in Kenya, the largest economy in the East African Community. It is one of the forty-three commercial banks licensed by the Central Bank of Kenya, the central bank and national banking regulator.

Guardian Bank, whose full name is Guardian Bank Limited, is a commercial bank in Kenya with headquarters in Nairobi. It is licensed by Central Bank of Kenya, the central bank and national banking regulator.

Gulf African Bank (GAB), whose full name is Gulf African Bank Limited, is a commercial bank in Kenya operating under an Islamic banking regime. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.

Middle East Bank Kenya is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.

Access Bank Kenya (ABK), whose complete name is Access Bank (Kenya) PLC, formerly Transnational Bank Kenya PLC, is a commercial bank in Kenya. It is licensed and regulated by the Central Bank of Kenya, the national banking regulator.

Victoria Commercial Bank (VCB) is a private bank in Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the Central Bank and national banking regulator.

Standard Chartered Kenya, whose official name is Standard Chartered Bank Kenya Limited, but is sometimes referred to as Stanchart Kenya, is a commercial bank in Kenya. It is a subsidiary of the British multinational financial conglomerate headquartered in London, United Kingdom, known as Standard Chartered. Stanchart Kenya is one of the banks licensed by the Central Bank of Kenya, the central bank and national banking regulator, in the largest economy in the East African Community.

Bank of India (Kenya) is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the national banking regulator.

References

  1. ↑ "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya . Retrieved 19 August 2014.
  2. ↑ "Consolidated Bank of Kenya – Medium Term Note Information Memorandum" (PDF). Consolidated Bank of Kenya. 21 June 2012. Retrieved 25 August 2015.
  3. ↑ "Consolidated Bank Upbeat As Bond Issue Closes". Business Daily Africa (Nairobi). 19 July 2012. Retrieved 19 August 2014.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.