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Commercial Bank of Africa
Commercial Bank of Africa
(CBA) is a financial services provider headquartered in Nairobi, Kenya, the largest economy in the East African Community. CBA is licensed by the Central Bank of Kenya, the central bank and national banking regulator.[2] As of December 2015[update], the bank was one of the largest commercial banks in Kenya
Kenya
with assets of approximately US$2.166 billion (KES:215.6 billion), with shareholders' equity of approximately US$217.83 million (KES:21.68 billion).[1] It is the largest privately owned commercial bank in Kenya.[3]

Contents

1 History 2 Ownership 3 Commercial Bank of Africa
Commercial Bank of Africa
Group 4 Governance 5 See also 6 References 7 External links

History[edit] The bank was founded in 1962 in Dar es Salaam, Tanzania. Soon, branches were opened in Nairobi
Nairobi
& Mombasa, Kenya
Kenya
and in Kampala, Uganda. When Tanzania
Tanzania
nationalised private banks in 1967, the bank moved its headquarters to Nairobi. Following political changes in Uganda
Uganda
in 1971, the bank sold its assets in that country.[4] At the beginning, CBA was owned by a consortium of financial institutions known as Société Financière pour les Pays d'Outre-Mer (SFOM), based in Switzerland. Original members of the consortium included Banque Nationale de Paris, Bank Bruxelles Lambert, Commerzbank, and Bank of America. In 1980, Bank of America
Bank of America
acquired 84% shareholding, effectively buying out all the other SFOM partners. Sixteen per cent shareholding in CBA remained in the hands of Kenyan investors. During the 1980s Bank of America
Bank of America
divested from the bank, putting 100% shareholding in CBA in the hands of Kenyan nationals.[4] Ownership[edit] Commercial Bank of Africa's ownership is under a shareholding structure. The Kenyatta family controls 24.91 percent of CBA through an investment vehicle called Enke Investments Limited.[3] The table below illustrates the shareholding in the company stock, as of December 2017.[5]

Commercial Bank of Africa Group Stock
Stock
Ownership

Rank Name of Owner Percentage Ownership

1 Enke Investments Limited 24.91

2 Ropat Nominees Limited 22.50

3 Livingstone Registrars Limited 19.90

4 Yana Investments Limited 11.14

5 Ropat Trust Company Limited 5.37

6 Other Institutions & Individual 16.18

Total 100.00

Commercial Bank of Africa
Commercial Bank of Africa
Group[edit] Commercial Bank of Africa
Commercial Bank of Africa
(Kenya) is a member of the CBA Group of companies. These include:

Commercial Bank of Africa
Commercial Bank of Africa
(Kenya) – Nairobi, Kenya
Kenya
– 100% shareholding Commercial Bank of Africa (Tanzania)
Commercial Bank of Africa (Tanzania)
– Dar es Salaam, Tanzania
Tanzania
– 100% shareholding Commercial Bank of Africa (Uganda)
Commercial Bank of Africa (Uganda)
– Kampala, Uganda
Uganda
[6] – 100% shareholding Commercial Bank of Africa (Rwanda) – Kigali, Rwanda
Rwanda
– 100% shareholding[7] AIG Kenya
Kenya
Insurance Company Limited – Nairobi, Kenya
Kenya
– 33.33% shareholding. Balance of 66.67% shareholding in AIG Kenya
Kenya
held by the American International Group.

Governance[edit] The Chairman of the board of directors is Desterio Oyatsi, one of the non-executive directors. Isaac Awoundo serves as the managing director.[1] See also[edit]

Commercial Bank of Africa
Commercial Bank of Africa
(Tanzania) CBA Group List of banks in Kenya Central Bank of Kenya Economy of Kenya

References[edit]

^ a b c d e CBA Group (28 March 2016). "CBA Annual Report and Financial Statements for 31 December 2015". Commercial Bank of Africa (CBA). Retrieved 28 September 2016.  ^ CBK (28 September 2016). "Central Bank of Kenya: Licensed Commercial Banks". Nairobi: Central Bank of Kenya
Kenya
(CBK). Retrieved 28 September 2016.  ^ a b Herbling, David (28 September 2016). "Kenyan mobile lender customers in Uganda
Uganda
hit 0.6 million in two months". The EastAfrican. Nairobi. Retrieved 28 September 2016.  ^ a b CBA Group (28 September 2016). "Commercial Bank of Africa: Our History". Nairobi: CBA Group. Retrieved 28 September 2016.  ^ CABG (31 December 2017). "Shareholding in the Commercial Bank of Africa Group". Nairobi: Commercial Bank of Africa Group (CBAG). Retrieved 5 March 2018.  ^ Nakaweesi, Dorothy (22 January 2014). "Commercial Bank of Africa Returns To Ugandan Market". Daily Monitor. Kampala. Retrieved 4 August 2014.  ^ Ngigi, George (24 November 2015). "CBA seeks licence to start operating in Rwanda
Rwanda
next year". Business Daily Africa. Nairobi. Retrieved 28 September 2016. 

External links[edit]

Website of Commercial Bank of Africa
Commercial Bank of Africa
(Kenya) Website of Commercial Bank of Africa
Commercial Bank of Africa
(Tanzania) Website of Central Bank of Kenya

v t e

Banks of Kenya

Central bank

Central Bank of Kenya

Commercial bank

African Banking
Banking
Corporation Bank of Africa Barclays Bank Bank of Baroda Bank of India Chase Bank Citibank
Citibank
NA Kenya Commercial Bank of Africa Consolidated Bank of Kenya Cooperative Bank of Kenya Credit Bank Development Bank of Kenya Diamond Trust Bank East African Development Bank Ecobank Kenya Equity Bank Family Bank First Community Bank Guaranty Trust Bank (Kenya) Guardian Bank Gulf African Bank Habib Bank AG Zurich Housing Finance Company of Kenya I&M Bank Limited Jamii Bora Bank Kenya
Kenya
Commercial Bank Mayfair Bank Middle East Bank Kenya M-Oriental Bank National Bank of Kenya NIC Bank Paramount Universal Bank Post Bank Prime bank SBM Kenya Sidian Bank Spire Bank Stanbic Bank Standard Chartered Kenya Trans National Bank Kenya United Bank for Africa Victoria Commercial Bank

Financial services organization

Commercial Bank of Africa
Commercial Bank of Africa
Group Diamond Trust Bank Group Equity Group Holdings Limited HF Group I&M Holdings KCB Group NIC Group

Foreign banks

Bank of China Bank of Kigali HDFC Bank Nedbank The Hongkong and Shanghai Banking
Banking
Corporation First Rand

Defunct banks

Dubai Bank Kenya Euro Bank Dubai Bank Kenya Giro Commercial Bank Habib Bank Imperial Bank Limited

Microfinance Institutions

Faulu Microfinance Bank Limited SMEP Microfinance Bank Kenya
Kenya
Women Microfinance Bank

SACCOs

Imarisha SACCO Mwalimu SACCO UN SACCO Unaitas SACCO

Related Topics

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