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Middle East Bank (Kenya)

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.[1]

It is a small retail bank that focuses on meeting the needs of large corporations and high-net-worth individuals. , the bank was ranked number 41, by assets, out of a total of 43 commercial banks in Kenya.[2], 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).[3]

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.[4] 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.[5]

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.[6]

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 Middle East Bank is depicted in the table below:

Branch network

, 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.[7][8]

  • Main Branch – Mebank Tower, Milimani Road, Nairobi
  • Industrial Area Branch – Butere Road, off Dar es Salaam Road, Nairobi
  • Mombasa Branch – Nkrumah Road, Mombasa
  • Eldoret Branch – Enterprise Road, Nairobi

See also

External links

References

  1. Directory of Commercial Banks And Mortgage Finance Companies Central Bank of Kenya, retrieved 6 August 2014^
  2. Kenya Bank Rankings By Assets In 2013 Bankelele.Co.Ke, 28 April 2014, retrieved 6 August 2014^
  3. Audited Financial Statements And Other Disclosures As At 31 December 2012 Middle East Bank Kenya, retrieved 6 August 2014^
  4. Middle East Bank Branches www.banks-kenya.com, retrieved 2020-01-23^
  5. Middle East Bank Kenya Q3 Earnings Jump to KSh 70.1 Million Kenyan Wallstreet, 2019-11-27, retrieved 2020-01-23^
  6. History of Middle East Bank Kenya Middle East Bank Kenya, retrieved 6 August 2014^
  7. The Branches of Middle East Bank Kenya Middle East Bank Kenya, retrieved 6 August 2014^
  8. Middle East Bank Kenya Ltd - Yellow Pages Online Directory Yellow Pages Kenya, Yellow Pages Kenya^