Type | Private |
---|---|
Industry | Financial services |
Founded | 1986 |
Headquarters | Nairobi, Kenya |
Key people | Simeon Nyachae Chairman Betty Maritim Korir Managing Director |
Products | Loans, Checking, Savings, Investments, Debit Cards |
Revenue | ![]() |
Total assets | US$178.28 million (KES:17.805 billion) (2018)[1] |
Website | Homepage |
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.[2]
The bank is a medium-sized commercial bank in Kenya, East Africa's largest economy. Prior to 2010, the bank's focus was large corporations and upscale business-people. In September 2010, Credit Bank changed strategy and transformed into a retail bank, serving all segments of society and their businesses. As of December 2018[update], the bank's total assets were valued at approximately US$178.28 million (KES:17.805 billion), with shareholders' equity valued at US$28.67 million (KES:2.86 billion).[1]
The bank was founded in 1986, as a non-bank financial institution (NBFI); Credit Kenya Limited. In 1995, the institution was awarded a commercial banking license and it rebranded to Credit Bank Limited.[3]
As at January 2016, the shares of stock of Credit Bank are privately owned by corporate and individual investors.[4] In January 2016, Fountain Enterprises Programme Group (FEP) announced plans to acquire a controlling 75 per cent stake in Credit Bank for KSh4 billion (approx. US$40 million), pending approval of the Central Bank of Kenya.[5] As of June 2019, the major shareholders in the bank's stock were as depicted in the table below:[6]
Rank | Name of Owner | Percentage Ownership |
---|---|---|
1 | Nyachae’s Sansora Group | |
2 | Sanama Investment | |
2 | Ketan Morjaria | |
3 | Jay Karia | |
4 | Fountain Enterprises Programme Group (FEP)[7] | |
5 | Others | |
Total |
The bank maintains networked branches at the following locations:[8]