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.[2] The bank has also been running Agency banking model.[3]
Overview
As of December 2015, KCB Bank Kenya was the largest commercial bank in Kenya with assets of more than US$3.681 billion (KES:366 billion) and US$2.776 billion (KES:276 billion) in customer deposits.[4]
y August 2021, the bank recorded a customer deposit growth to USD$5.47 billion (KES:601.7 billion) and had an asset base value of USD$7.09 billion (KES:7.09 billion).During that time, it had 201 branches, 397 ATM machines, and registered 15,273 Agents and Merchant outlets spread across Kenya.
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KCB Bank Kenya received both Kenya’s Best Bank 2021 award and Africa’s Best Responsible Bank in the Euromoney Awards for Excellence.[ ] The bank was feted as the Best Bank in Customer Experience in Kenya and the Most Innovative Banking Brand in Kenya by thee 2021 Global Brands Magazine Awards.[5]
History
KCB Bank Kenya roots trace back to July 1896 when its parent company, KCB Group, was formed as a branch of the National Bank of India in Mombasa. 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 1970, the Government took full control of the bank and renamed it to Kenya Commercial Bank Group.[6]
KCB Bank Kenya, as it is now known, was incorporated in 2015 as a result of the corporate restructure of Kenya Commercial Bank Group (KCB Group). Prior to 2015, KCB Group was both a licensed bank and a holding company for its subsidiaries.[6] This was in compliance with the Kenya Finance Act No.57 of 2012. KCB Group Limited announced, in April 2015, its intention to incorporate a new wholly owned subsidiary, KCB Bank Kenya Limited, to which it would transfer its Kenyan banking business, assets and liabilities. The re-organisation converted KCB Group Limited into a non-trading holding company that owns both banking and non-banking subsidiary companies.[6]
In 2016, KCB Group PLC was registered as a non-operating holding company to manage and oversee all KCB regional units in Kenya, Tanzania, South Sudan, Uganda, Rwanda, Burundi and Ethiopia. [7]
As of December 2021, KCB has more than 207 branches, 399 ATM machines, 12,724 bank agents and 8,023 merchant outlets throughout Kenya. It has the largest number of own-branded ATMs in Kenya. At that time, it served over 7 million account holders[citation needed].[10]
Officers and management
The chairman of the bank's board of directors is Andrew Wambari Kairu,[11] and the chief executive officer and managing director of the bank is Joshua Oigara.[12]
: Aftertax: US$166.3 million (KES:18.3 billion) (2020)[1]
