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Credit Bank

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.[1]

Overview

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. , 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).[2]

History

The bank was founded in 1986 as the 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]

Ownership

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]

Branches

The bank maintains networked branches at the following locations:[8]

  • 1) Main Branch - Mercantile House, Koinange Street, Nairobi
  • 2) Westland Branch - Empress Plaza, Ring Road, Westlands, Nairobi
  • 3) Industrial Area Branch - 53 Butere Road, Industrial Area, Nairobi
  • 4) Lavington Branch - Lavington Mall, James Gichuru Road, Lavington, Nairobi
  • 5) Kisumu Branch - Swan Centre, Oginga Odinga Road, Kisumu
  • 6) Kitengela Branch - 2nd Floor, Safari House, Namanga Road, Kitengela
  • 7) Nakuru Branch I - Giddo Plaza, Eldoret-Nakuru Highway, Nakuru
  • 8) Kisii Branch - Hospital Road, Kisii
  • 9) Mombasa Nkrumah Branch - Taiyebi House, Nkrumah Road, Mombasa
  • 10) Eldoret Branch - Zion Mall, Uganda Road, Eldoret
  • 11) Ongata Rongai Branch - Maasai Mall, Magadi Road, Ongata Rongai
  • 12) Machakos Branch - Mbolu-Malu Road, Machakos
  • 13) Thika Branch - Second Floor, Biashara Plaza, Mama Ngina Street, Thika
  • 14) Nyali Branch - Nyali Centre, Link Road, Nyali
  • 15) One Africa Branch - 2nd Floor, One Africa Place, Waiyaki Way, Westlands, Nairobi
  • 16) New Nairobi Branch - Nairobi[7]
  • 17) Meru Branch - Meru[7]
  • 18) Eldoret Branch - Kerio Valley Development Authority Building, Oloo Street, Eldoret[9]

See also

External links

References

  1. Directory of Commercial Banks And Mortgage Finance Companies Central Bank of Kenya, retrieved 13 August 2014^
  2. Credit Bank. Audited Financial Statements And Other Disclosures For The Year Ended 31 December 2018 Credit Bank, 27 March 2019, retrieved 6 June 2019^
  3. History of Credit Bank Limited Credit Bank Limited, retrieved 13 August 2014^
  4. John Gachiri. Investment firm FEP buys 5 per cent stake in Nyachae’s Credit Bank Business Daily Africa, 14 January 2016, retrieved 15 January 2016^
  5. John Gachiri. FEP set to pay Sh4bn for controlling stake in Nyachae’s Credit Bank Business Daily Africa, 18 January 2016, retrieved 19 January 2016^
  6. Victor Juma. Credit Bank In Sh2 Billion Cash Call For Expansion Business Daily Africa, 6 June 2019, retrieved 6 June 2019^
  7. Victor Juma. FEP pays Sh107 million to buy stake in Nyachae majority-owned bank Business Daily Africa, 16 August 2016, retrieved 16 August 2016^
  8. The Branch Network of Credit Bank Limited Credit Bank Limited, retrieved 13 August 2014^
  9. Dennis Lubanga. Credit Bank Eyes SMEs With Eldoret Outlet Business Daily Africa, 4 April 2019, retrieved 4 April 2019^