Development Bank of Kenya is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with co ...

Kenya ) , national_anthem = " Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi ...

. It is licensed by the

Central Bank of Kenya The Central Bank of Kenya (CBK) ( sw, Banki Kuu ya Kenya) is the monetary authority of Kenya. Its head office is located in Nairobi. CBK was founded by in 1966 after the dissolution of East African Currency Board (EACB). Dr. Patrick Ngugi Njoroge ...

, the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...

and national banking regulator.

Overview

Development Bank of Kenya is a medium-sized financial institution providing an array of financial services to both individuals and businesses. , the total asset valuation of the bank was approximately US$180 million (KES:15.58 billion), with shareholder's equity of about US$21 million (KES:1.822 billion). At that time, the bank was ranked number 26, by assets, among the 43 licensed banks in Kenya.

History

Development Bank of Kenya was established in 1963 as a non-banking financial institution. Its primary focus at that time was to promote and develop commercially viable projects in

Kenya ) , national_anthem = " Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi ...

. In 1964, it began financing development projects as a development finance institution. As part of the banking reforms of 1996, it converted to a commercial bank and began accepting customer deposits.

Ownership

Shareholding in Development Bank of Kenya at its inception included (a) the Government of Kenya, through the Industrial and Commercial Development Corporation, (b) the British Government, through

Commonwealth Development Corporation British International Investment, (formerly CDC Group plc, Commonwealth Development Corporation, and Colonial Development Corporation) is the development finance institution of the UK government. The Foreign, Commonwealth and Development Office ...

and (c) the

Government of Germany The Federal Cabinet or Federal Government (german: link=no, Bundeskabinett or ') is the chief executive body of the Federal Republic of Germany. It consists of the Federal Chancellor and cabinet ministers. The fundamentals of the cabinet's or ...

, through the

German Investment Corporation Deutsche Investitions- und Entwicklungsgesellschaft (DEG) is a Development Finance Institution (DFI) and a subsidiary of KfW Group. It was founded in Cologne in September 1962 as a federally owned company by the former Federal President Walter ...

. In 1967, the

Dutch Government The politics of the Netherlands take place within the framework of a parliamentary representative democracy, a constitutional monarchy, and a decentralised unitary state.''Civil service systems in Western Europe'' edited by A. J. G. M. Bekk ...

, through the

Netherlands Development Finance Company FMO ( nl, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.) is a Dutch development bank structured as a bilateral private-sector international financial institution based in the Hague, the Netherlands. FMO manages funds for th ...

, became the fourth shareholder. In 1981, the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...

, through the

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of ...

, became the fifth shareholder. Over the years, the non-Kenyan shareholders have divested from the bank and shareholding as depicted in the table below:

Branch network

, the bank maintains its headquarters in

Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper h ...

, Kenya's capital and largest city. It has one branch on the ground floor of its headquarters building. * Main branch - Finance House, Loita Street,

References

External links

Website of Development Bank of KenyaWebsite of Central Bank of Kenya
{{Banking in Kenya Banks of Kenya Banks established in 1963 Companies based in Nairobi Kenyan companies established in 1963

Overview

History

Ownership

Branch network

See also

References

External links