Giro Commercial Bank, whose full name was Giro Commercial Bank Limited, was a commercial bank in Kenya it was acquired and absorbed by I&M Holdings in 2017. It was licensed by the Central Bank of Kenya, the central bank and national banking regulator.[1]
, the total asset base of Giro Commercial Bank was valued at approximately KSh.13.623 billion/= (US$157.67 million), with shareholders' equity of approximately KSh.2.086 billion/= (US$24.15 million). Then, the bank held KSh.11.457 billion (US$132.6 million), in customer deposits.[2] At that time, the bank was ranked number 29 out of 43 licensed banks in Kenya.[3]
History
Giro Commercial Bank traces its roots from Credit & Commerce Finance Limited (CCF), a non-bank financial entity founded in 1986. In 1992, the shareholders of CCF founded Giro Bank Limited to provided conventional banking services, while CCF retained its focus on hire purchase and trade finance.