Guaranty Trust Bank (Kenya) Ltd, commonly referred to as GTBank 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 ...

in Kenya and a subsidiary of the Nigerian

Guaranty Trust Bank Guaranty Trust Holding Company PLC also known as GTCO PLC is a multinational financial services group, that offers retail and investment banking, pension management, asset management and payments services, headquartered in Victoria Island, Lagos ...

Plc. 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. The Bank provides banking services with focus on Corporate Banking, SME Banking, Personal Banking, Private Banking and Treasury Services. , the Bank was a medium-sized financial services provider, providing commercial banking services to individuals and organisations. At that time, its total asset valuation was estimated at about US$242.2 million (KES:20.94 billion). In 2013, GTBank Kenya was ranked number 22, by assets, among 43 licensed banks in Kenya then.

History

The Bank was founded 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 ...

, in 1986, as Finance International Limited, a "Non-Banking Financial Institution" (NBFI). The name of the institution was later changed to the Finance Institution of Africa (FINA). In 1991 the company changed ownership. In 1995, the

, the country's banking regulator, changed the banking laws, requiring all NBFI's to convert to

s or close shop. To comply with the law, FINA converted to a commercial bank, Fina Bank (Kenya) Limited, in February 1996. Between 2005 and 2008, Fina Bank Kenya established subsidiaries in Rwanda and

Uganda }), is a landlocked country in East Africa. The country is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the south by Tanzania. The sou ...

, forming the

Fina Bank Group Fina Bank Group, was a financial services organization in East Africa located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda and Uganda. It was acquired by Guaranty Trust Bank in 2013 and renamed soon after. Before its takeover, Fina Bank ...

. In 2013

Nigeria Nigeria ( ), , ig, Naìjíríyà, yo, Nàìjíríà, pcm, Naijá , ff, Naajeeriya, kcg, Naijeriya officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf o ...

, acquired 70% shareholding in Fina Bank Group for a cash consideration of US$100 million. In January 2014, Fina Bank Kenya and her subsidiaries rebranded to reflect the change in ownership. In February 2014, Fina Bank Group rebranded to

Guaranty Trust Bank (East Africa) Fina Bank Group, was a financial services organization in East Africa located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda and Uganda. It was acquired by Guaranty Trust Bank in 2013 and renamed soon after. Before its takeover, Fina Bank ...

References

{{Banking in Kenya Banks of Kenya Companies based in Nairobi Banks established in 1986 1986 establishments in Kenya

History

See also

References