Kingdom Bank Limited (Kenya), formerly Jamii Bora Bank, 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 cor ...

in Kenya. It is one of the commercial banks 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 national banking regulator.

Location

The headquarters of the bank are located at Kingdom Towers (formerly Jamii Bora Towers), along Argwings Kodhek Road, in

Kilimani Kilimani is a mixed-use commercial and residential neighbourhood in the city of Nairobi. Location Kilimani is located approximately west of Nairobi's central business district, within Westlands Sub-county. It is north of Woodley; east of K ...

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 ...

, approximately , by road, west of the city centre. The geographical coordinates of the bank's headquarters are:01°17'35.0"S, 36°47'23.0"E (Latitude:-1.293056; Longitude:36.789722).

History

The bank was founded, as a Charitable Trust, by fifty destitute families on the streets of

, Kenya's capital and largest city. In March 2010, it merged with another financial institution with a banking license and transformed into a fully fledged commercial bank. In March 2010, Jamii Bora merged with City Finance Bank (CFB), a small private financial services provider which, in the past, had provided services to large corporations and high-net-worth individuals. In the merger, CFB acquired JBB and took on the name of its new acquisition. Other investors in the bank include Baraka Africa Fund (BAF), and other individual investors. In March 2020,

Co-operative Bank of Kenya Co-operative Bank of Kenya is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator. The bank has introduced Agency banking mo ...

, the country's fourth-largest commercial bank, with nearly 10 percent market share of national banking assets, proposed the acquisition of Jamii Bora Bank.

Assets

In March 2018, the bank's total assets were valued at approximately KSh12.5 billion (US$117 million).

Ownership

Jamii Bora Bank is privately owned. A rights issue of US$4 to 6 million was successfully executed in the 4th quarter of 2010. In November 2011, a new consortium known as Asterisk Holdings, invested KES:410 million (approx:US$4.6 million) in Jamii Bora Bank. Following the acquisition of 90 percent shareholding in the stock of the bank by Cooperative bank of Kenya, the bank ownership was as depicted in the table below, as of August 2020.

Acquisition

In March 2020,

, the fourth-largest commercial bank in the country, began the process of acquiring 100 percent shareholding in Jamii Bora Bank. The process required regulatory approvals. On 7 August 2020, Cooperative Bank received all the necessary regulatory approvals to acquire 90 percent shareholding in Jami Bora Bank. On 25 August 2020, the bank re-branded to Kingdom Bank Kenya Limited.

Branches

, the bank maintained a network of branches at the following locations: # Koinange Branch - Jamii Bora House, Muindi Mbingu Street,

# Ongata Rongai Branch:

Ongata Rongai Ongata Rongai (also known as Ronga in local slang) is a town located in Kajiado North, Kajiado County, Kenya. The town is situated south of the Nairobi CBD and East of the Ngong hills and within the greater Nairobi Metropolitan Region. It li ...

# Thika Branch: Kenyatta Avenue,

Thika Thika Thika (pronounced �θika is an industrial town and a major commerce hub in Kiambu County, Kenya, lying on the A2 road 42 kilometres (26 mi) Northeast of Nairobi, near the confluence of the Thika and Chania Rivers. Although Thika town ...

# Kikuyu Branch: Brick House,

Kikuyu Kikuyu or Gikuyu (Gĩkũyũ) mostly refers to an ethnic group in Kenya or its associated language. It may also refer to: * Kikuyu people, a majority ethnic group in Kenya *Kikuyu language, the language of Kikuyu people *Kikuyu, Kenya, a town in Cent ...

# Kisumu Branch: Mega Plaza, Oginga Odinga Street,

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 ...

# Kayole Branch: Kayole,

# Nyeri Branch: Naivas Mall,

Nyeri Nyeri is a town situated in the Central Highlands of Kenya. It is the county headquarters of Nyeri County. The town was the central administrative headquarters of the country's former Central Province. Following the dissolution of the former pr ...

# Mtwapa Branch -

Mtwapa Mtwapa is a town located in Kenya's Kilifi County. It is situated north of Mombasa on the Mombasa-Malindi road. It is close to the Mombasa Marine National Park and Reserve and Jumba la Mtwana. Two informal settlements in Mtwapa, Majengo and ...

# Mombasa Branch: Southern 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 ...

# Kawangware Branch: Mbugua Plaza Junction,

Kawangware Kawangware () is a low income residential area in Nairobi, Kenya, about 15 km west of the city centre, between Lavington and Dagoretti. Description According to the 2009 Kenya Population and Housing Census, Kawangware's population was 133,28 ...

# Kilimani Branch: Jamii Bora House, Argwings Kodhek Road, Nairobi # Kirinyaga Road Branch: Kirinyaga Road, Nairobi # Kitengela Branch:

Kitengela Kitengela is a municipality in the Kajiado County of Kenya, located 50 Kilometres south of the capital Nairobi, forming part of the greater Metropolitan Area. Kitengela begun as The Kitengela group ranch, made up of 18,292 ha and 214 registered ...

# Kiambu Branch:

Kiambu Kiambu is a town in Kiambu County, Kenya within the Nairobi Metropolitan Region. It is from the capital Nairobi. It has an population of 147,870. It is the capital of the Kiambu County, which bounds the northern border of Nairobi. Other proxi ...

# Wangige Branch: Wanie,

Kiambu County Kiambu County is a county in the former Central Province of Kenya. Its capital is Kiambu and its largest town is Thika. Kiambu County is the second most populous after Nairobi County. Kiambu County borders Nairobi and Kajiado Counties to the So ...

# Utawala Branch: Utawala, Nairobi # Nakuru Branch:

Nakuru Nakuru is a city in the Great Rift Valley, Kenya, Rift Valley region of Kenya. It is the capital of Nakuru County, and was formerly the capital of Rift Valley Province. As of 2019, Nakuru had an urban and rural population of 570,674 inhabitant ...

# Kisii Branch:

Kisii Kisii may refer to: * Kisii, Kenya, the inaugural capital city of Kenya * Kisii County, one of the 47 counties of Kenya * Gucha District, in Kenya, also known as ''South Kisii District'' * Nyamira District, in Kenya, also known as ''North Kisii Di ...

Governance

The five-person

board of directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...

is chaired by Margaret Karangatha. Other board members are Gideon Muriuki, the Cooperative Bank Group managing director, Macloud Malonza, Julius Sitienei and Anthony Mburu, the Kingdom Bank CEO.

References

External links

Website of Kingdom Bank Limited

Website of Jamii Bora Bank

Website of Central Bank of Kenya

Case Study of Jamii Bora Bank

* ttp://www.businessdailyafrica.com/Corporate+News/Jamii+Bora+profit+jumps+129pc+on+loan+book+growth+/-/539550/1964184/-/q3ec3gz/-/index.html Jamii Bora Profit Jumps 129 Percent On Loan Book Growth
The Resilience Of Kenyan Banking Sector
{{Nairobi Banks of Kenya Companies based in Nairobi 1999 establishments in Kenya Banks established in 1999