Paramount 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 ...

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

. It is one of the forty-four 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. Paramount Bank is a small

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 ...

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

. , the bank was ranked number 37, by assets, out of 43 licensed commercial banks in the country. The bank is an active member of the

MoneyGram MoneyGram International, Inc. is an American cross-border Peer-to-peer, P2P payments and electronic funds transfer, money transfer company based in the United States with headquarters in Dallas, Dallas, Texas. It has an operations center in St. L ...

money transfer network.

History

The bank was established in 1993, as a deposit-taking,

non-bank financial institution A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFC facilitate ba ...

called Combined Finance Limited. The company's share capital at that time was approximately US$300,000 (KES:25 million). In 1995, after increasing its share capital and following the issuance of a commercial banking license, the company rebranded to Paramount Bank Limited, and began banking operations. In 2000, Paramount Bank merged with Universal Bank Limited to form Paramount Universal Bank.

Ownership

, Paramount Universal Bank is a privately held company whose owners are not publicly known.

Branch network

The bank maintains a network of branches at the following locations, as of January 2015: # Westlands Branch - Sound 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 ...

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 ...

(main branch) # Parklands Branch - Amani Plaza, 3rd Parklands Avenue,

Parklands, Nairobi Parklands is a neighbourhood in the city of Nairobi, the capital and largest city in Kenya. It is divided into numbered avenues. The name arises from the proximity of the area to City Park, Nairobi. Location Parklands is located approximately ...

# Kimathi House Branch - Kimathi House, City Centre,

# Koinange Street Branch - Paramount Bank House, Koinange Street,

# Mombasa Branch - Jubilee Building, 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 ...

# Eldoret Branch - Karims Hardware Building, Oloo 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 ...

# Industrial area Branch - Dar es Salaam Road

References

External links

Website of Paramount Universal Bank

Website of Central Bank of Kenya
{{Nairobi Banks of Kenya Companies based in Nairobi Banks established in 1993 Kenyan companies established in 1993

History

Ownership

Branch network

See also

References

External links