Middle East Bank (Kenya)

Last updated
Middle East Bank Kenya Limited
Type Private
Industry Banking
Founded1981 (1981)
HeadquartersMebank Tower
Jakaya Kikwete Road
Nairobi, Kenya
Key people
A.A.K. Esmail (Chairman), Isaac N. Mwige (Managing Director)
Total assets US$ 100m (Kes 11.02 billion) (2020)
Website www.mebkenya.com

[1] 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. [2]

Contents

The bank is a small retail bank, that focuses on meeting the needs of large corporations and high-net-worth individuals. As of December 2013, the bank was ranked number 41, by assets, out of a total of 43 commercial banks in Kenya. [3] as of December 2020, the bank's total assets were valued at about US$100 million (KES:11.02 billion), with shareholders' equity of approximately US$13 million (KES:1.124 billion). [4]

History

Middle East Bank Kenya Ltd started operations in Kenya in August 1981, after receiving a banking license from the Central Bank of Kenya, the national banking regulator. [5] The initial shareholders in the bank were the Al-Futtaim Group, affiliated with the Middle East Bank Group of United Arab Emirates. In 1991, the Al-Futtaim Group divested from the bank, leaving shareholding in Kenyan hands. [6]

In 1995, Banque Belgolaise, a Belgian financial institution acquired 25% shareholding in Middle East Bank Kenya, becoming the single largest shareholder. As a result of multiple bank mergers and acquisitions, that 25% shareholding subsequently came to be owned by BNP Paribas Fortis. 75% shareholding remains in private Kenyan hands. [7]


Ownership

The shares of stock of Middle East Bank Kenya are privately held. The largest single shareholder, with 25% shareholding, is BNP Paribas Fortis, a Belgian financial services provider that is a subsidiary of BNP Paribas, a French banking conglomerate that is the largest banking group in the world. Shareholding in Meddle East Bank is depicted in the table below:

Middle East Bank Kenya Stock Ownership
RankName of OwnerPercentage Ownership
1 BNP Paribas Fortis of Belgium 25.00
2Institutional and Individual Kenyan Investors75.00
Total100.00

Branch network

as of December 2020, the bank maintains its headquarters in Nairobi, Kenya's capital and largest city. It has three branches; two in Nairobi and another in Mombasa, Kenya's second-largest city. [8]

See also

Related Research Articles

<span class="mw-page-title-main">KCB Bank Kenya Limited</span>

KCB Bank Kenya Limited is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the national banking regulator. The bank has also been running Agency banking model.

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.

KCB Group Limited, also known as the KCB Group, is a financial services holding company based in the African Great Lakes region. The Group's headquarters are in Nairobi, Kenya, with its subsidiaries being KCB Bank Kenya Limited, KCB Bank Burundi Limited, KCB Bank Rwanda Limited, KCB Bank South Sudan Limited, KCB Bank Tanzania Limited, KCB TMB Congo and KCB Bank Uganda Limited.

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.

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

Chase Bank Kenya Limited(CBK), commonly referred to as Chase Bank, was a commercial bank in Kenya, licensed by the Central Bank of Kenya, the central bank and national banking regulator.

Commercial Bank of Africa (CBA) was a financial services provider headquartered in Nairobi, Kenya, the largest economy in the East African Community. CBA was 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.

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.

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.

Kingdom Bank Limited (Kenya), formerly Jamii Bora Bank, is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the national banking regulator.

First Community Bank (FCB), now Premier Bank is a Shari'ah compliant commercial bank in Kenya, the largest economy in the East African Community. The bank received a formal approval from the Central Bank of Kenya in 2007, the national banking regulator in the country but commenced its official operations on 1st June, 2008.

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.

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.

Dubai Bank Kenya (DBK), whose complete name is Dubai Bank Kenya Limited, but is often referred to as Dubai Bank, was a commercial bank in Kenya, the largest economy in the East African Community. It was licensed by the Central Bank of Kenya, the central bank and national banking regulator. The institution is not affiliated with Dubai Bank of United Arab Emirates or with that bank's parent company, Dubai Banking Group.

M Oriental Bank, previously known as 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, 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. ↑ "Middle East Bank Kenya Ltd - Yellow Pages Online Directory". Yellow Pages Kenya. Yellow Pages Kenya.
  2. ↑ "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya . Retrieved 6 August 2014.
  3. ↑ "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. 28 April 2014. Retrieved 6 August 2014.
  4. ↑ "Audited Financial Statements And Other Disclosures As At 31 December 2012". Middle East Bank Kenya. Archived from the original on 10 August 2014. Retrieved 6 August 2014.
  5. ↑ "Middle East Bank Branches | Middle East Bank Branches Kenya | Middle East Bank". www.banks-kenya.com. Retrieved 2020-01-23.
  6. ↑ "Middle East Bank Kenya Q3 Earnings Jump to KSh 70.1 Million". Kenyan Wallstreet. 2019-11-27. Retrieved 2020-01-23.
  7. ↑ "History of Middle East Bank Kenya". Middle East Bank Kenya. Retrieved 6 August 2014.
  8. ↑ "The Branches of Middle East Bank Kenya". Middle East Bank Kenya. Archived from the original on 8 August 2014. Retrieved 6 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.