M Oriental Bank, previously known as Oriental Commercial Bank Limited, 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.

Overview

, the bank's total assets were valued at KSh10.577 billion (approx. US$106 million), with KSh3.028 billion (approx. US$30.3 million), in shareholders' funds. In June 2016, the bank announced a change in business strategy. MOB will cease to operate as a

retail bank Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking servi ...

and instead become a private bank, with focus on serving family-owned businesses and high net-worth individuals. The use of ATMs would also be phased out.

Ownership

In 2016, Oriental Commercial Bank was officially re-branded to M Oriental Bank Limited, after the Central Bank of Kenya gave approval to M Holdings Limited to acquire majority shares. M Holdings Limited, a Kenyan owned and registered company subsequently opted to acquire only 33.8 percent. As of 31 December 2017, the shareholding in 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 was as illustrated in the table below.

Branch network

The bank maintains a network of branches at the following locations: # Westlands Branch – Apollo Centre, 2nd Floor, Ring Road, Westlands, Nairobi # Koinange Street Branch – Finance House, Ground Floor, Koinange Street, Nairobi # Sameer Business Park – Sameer Business Park, Mombasa Road, Nairobi # Mombasa Branch – HassanAli Building, Nkurumah Road, Mombasa # Nakuru Branch – AFC Building, Kijabe Row, Nakuru # Eldoret Branch – Muya House, Kenyatta Street,

Eldoret Eldoret is a principal town in the Rift Valley region of Kenya and serves as the capital of Uasin Gishu County. The town was referred to by white settlers as Farm 64, 64 and colloquially by locals as 'Sisibo'. As per the 2019 Kenya Population ...

# Kitale Branch – Robert Ouko Road,

Kitale Kitale is an agricultural town in northern Rift Valley Kenya situated between Mount Elgon and the Cherangany Hills at an elevation of around . Its population is 106,187 as of 2009. Kitale is the headquarter town of Trans-Nzoia County. Kitale is r ...

Governance

The bank is governed by a six-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 ...

. Shanti Shah, one of the non-executive directors, serves as the

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

. The chief executive officer is Alakh Kohli.

References

External links