Giro Commercial Bank, whose full name was Giro Commercial Bank Limited, was 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 cor ...

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

it was acquired and absorbed by I&M Holdings in 2017. It was 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 ba ...

and national banking regulator. , 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. At that time, the bank was ranked number 29 out of 43 licensed banks in Kenya.

History

The bank was established as ''Giro Bank Limited'' in 1992. In 1998, Giro Bank merged with ''Commercial Bank Limited'', to form ''Giro Commercial Bank Limited''. The

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

of the bank is privately owned by individuals and institutions. On September 7, 2015, I&M Holdings announced the acquisition of Giro Commercial Bank. The acquisition was finalized in March 2017 and the operations of Giro Commercial Bank were merged to that of I&M Bank Kenya.

Branch network

, the bank operated a network of branches at the following locations: # Head Office - Giro House, Eldama Park,

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 ha ...

# Banda Street Branch - Hughes Building, Banda Street,

# Industrial Area Branch - Dunga Road, Industrial Area,

# Kisumu Branch - Giro House, Oginga Odinga Road,

Kisumu Kisumu ( ) is the List of cities and towns in Kenya by population, third-largest city in Kenya after the capital, Nairobi, and the coastal city of Mombasa (census 2019). It is the third-largest city after Kampala and Mwanza in the Lake Victor ...

# Mombasa Branch - Pan Africa House, Moi Avenue,

Mombasa Mombasa ( ; ) is a coastal city in southeastern Kenya along the Indian Ocean. It was the first capital of the British East Africa, before Nairobi was elevated to capital city status. It now serves as the capital of Mombasa County. The town is ...

# Parklands Branch - 3rd Parklands Avenue, Ridge Court, Parklands,

# Westlands Branch - Bandari Plaza, Woodvale Grove,

Westlands Westlands is an affluent, mixed-use commercial and residential neighbourhood in Nairobi. Location Westlands is located approximately , by road, northwest of the central business district of Nairobi. The geographical coordinates of the neighb ...

References

External links

Website of Central Bank of KenyaCBK Case Against Giro Bank Set for September 2011SBI To Acquire Giro Commercial Bank, Indo Monex
{{Banking in Kenya Defunct banks of Kenya Banks established in 1992 Companies based in Nairobi Kenyan companies established in 1992

History

Branch network

See also

References

External links