Victoria Commercial Bank (VCB) is a private bank in Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the Central Bank and national banking regulator.[2]
Location
The bank maintains five branches in Nairobi, Kenya's capital. The main branch is located at Victoria Towers, in the upscale neighborhood of Upper Hill, about 4.6 km southwest of the central business district of Nairobi, Kenya's capital city.[3]
History
Victoria Commercial Bank was established in 1987 as Victoria Finance Company, a non-bank finance institution (NBFI). In 1996, following the issuance of a banking licence by the Central Bank of Kenya, the company rebranded to Victoria Commercial Bank.[4]
Overview
The bank is a Tier III private bank in Kenya, East Africa's largest economy. VCB focuses on serving large corporations and high-net-worth clients. The bank also offers personal banking services to the employees of its corporate clients.[5] Later, it began making loans to qualifying small and medium enterprises (SMEs).[6]
, the bank's total assets were valued at about US$360.3 million (KES:52.08 billion), with shareholders' equity of about US$49.4 million (KES:7.32 billion).[7]
Ownership
, the shareholding in the stock of Victoria Commercial Bank was as follows:[8]
Branches
, Victoria Commercial Bank maintains five branches in the city of Nairobi, Kenya.[9]
Credit rating
In July 2016, the South African credit rating agency Global Credit Ratings (GCR) rated the bank as BBB with stable outlook. The bank has a history of "operating without a loan default for the last 10 years".[9] During the first six months of 2017, VCB declared its first non-performing loan in the previous 10 years. The defaulted loan is valued at KSh18.3 million. (approx. US$180,000).[10]
See also
- List of banks in Kenya
- Economy of Kenya
External links
References
- James Rogoi. Kenyan bank where walk-in customers are forbidden Business Daily Africa, 2 March 2023, retrieved 3 September 2023^
- CBK. Directory of Licenced Commercial Banks, Mortgage Finance Institutions And Authorised Non-Operating Bank Holding Companies Central Bank of Kenya (CBK), 13 July 2016, retrieved 13 July 2016^
- {{google maps| url=https://www.google.com/maps/dir/City+Centre,+Kenya/Victoria+Towers,+Nairobi,+Kenya/@-1.285489,36.8108545,13.75z/data=!4m14!4m13!1m5!1m1!1s0x182f10d59c0d8a83:0x49f0f009d1d6cabc!2m2!1d36.8236816!2d-1.28058!1m5!1m1!1s0x182f10e5987422a7:0x3bf036f040a45f38!2m2!1d36.8156733!2d-1.3008156!3e0?entry=ttu |title=Road Distance Between Nairobi City Center, Kenya and Victoria Towers, Nairobi, Kenya | access-date=3 September 2023}}^
- VCB. Victoria Commercial Bank: About Us: Company Profile Victoria Commercial Bank (VCB), 14 July 2016, retrieved 14 July 2016^
- Software Neptune. Kenya's Victoria Commercial Bank Signs for Neptune Platform Finextra.Com, 20 October 2008, retrieved 4 August 2014^
- Elvis Mboya. Victoria Bank keeps bad loans at zero per cent Business Daily Africa, 19 April 2018, retrieved 20 April 2018^
- VCB. Audited 31 December 2022 Financial Report Victoria Commercial Bank (VCB), 17 March 2023, retrieved 3 September 2023^
- VCB. Victoria Commercial Bank: Significant Shareholders Victoria Commercial Bank (VCB), 31 December 2017, retrieved 20 August 2017^
- George Ngigi. Victoria Bank retains rating on clean loans records Business Daily Africa, 13 July 2016, retrieved 3 September 2023^
- David Herbling. Victoria bank sees first default after 10 years Daily Nation, 20 August 2017, retrieved 20 August 2017^