Victoria Commercial Bank (VCB) is a

private bank Private banks are banks owned by either the individual or a general Partner (business rank), partner(s) with limited partner(s). Private banks are not incorporation (business), incorporated. In any such case, creditors can look to both the "enti ...

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

. It is licensed as 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 ...

, 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.

Location

The bank maintains Five branches 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 ...

, Kenya's capital. The main branch is located at ''Victoria Towers'', in the upscale neighborhood of Upper Hill, southwest of the central business district of

, Kenya's capital city.

History

Victoria Commercial Bank was established in 1987 as Victoria Finance Company, a non-bank finance institution (NBFI). In 1996, following the issuance of a banking licence by the Central Bank of Kenya, the company rebranded to Victoria Commercial Bank.

Overview

The bank is a Tier III private bank in

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

, East Africa's largest economy. VCB focuses on serving large corporations and high-net-worth clients. The bank also offers personal banking services to the employees of its corporate clients. Later, it began making loans to qualifying

small and medium enterprise Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Ba ...

s (SMEs). , the bank's total assets were valued at about US$225.2 million (KES:22.4 billion), with shareholders' equity of about US$50.85 million (KES:5.06 billion).

Ownership

, the shareholding in the stock of Victoria Commercial Bank was as follows:

Branches

, Victoria Commercial Bank maintains Five branches in the city of Nairobi, Kenya.

Credit rating

In July 2016, the

South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. It is bounded to the south by of coastline that stretch along the Atlantic Ocean, South Atlantic and Indian Oceans; to the ...

n credit rating agency ''Global Credit Ratings'' (GCR) rated the bank as ''BBB'' with stable outlook. The bank has a history of "operating without a loan default for the last 10 years". During the first 6 months of 2017, VCB declared its first non-performing loan in the past 10 years. The defaulted loan is valued at KSh18.3 million. (approx. US$180,000).

References

External links

Website of Central Bank of Kenya

Website of Victoria Commercial Bank

Victoria Commercial Bank Profit After Tax drops by 17 Percent
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