KCB GROUP LIMITED, also known as the KCB GROUP, is a financial
services holding company based in the
African Great Lakes
African Great Lakes region. The
Group's headquarters are in Nairobi,
Kenya , with its subsidiaries
being KCB Bank
Kenya Limited ,
KCB Bank Burundi Limited , KCB Bank
Rwanda Limited ,
KCB Bank South Sudan Limited , KCB Bank Tanzania
Limited , and
KCB Bank Uganda Limited .
* 1 Overview
* 2 History
* 3 Ownership
* 4 Governance
* 5 Member companies
* 6 Branches of subsidiaries
Kenya Commercial Bank Plaza
* 8 See also
* 9 References
* 10 External links
As of December 2015, the Group had assets of KES:566.6 billion and
shareholders' equity of KES:78.1 billion.
In July 2015, news media reported that the group was pursuing
expansion plans into the
Democratic Republic of the Congo
Democratic Republic of the Congo ,
The history of
Kenya Commercial Bank Limited dates back to July 1896,
when its predecessor, the National Bank of India (NBI), opened a
branch in Mombasa to handle the business that the port was attracting
at that time.
In 1958, Grindlays Bank merged with the NBI to form the National and
Grindlays Bank (NGB). Upon independence, the government of Kenya
acquired 60 percent shareholding in NGB in an effort to bring banking
closer to the majority of Kenyans. In 1970, the government acquired
100 percent of the shareholding in NGB to take full control of the
largest commercial bank in Kenya. NGB was then renamed Kenya
Commercial Bank (KCB). In 1972, KCB acquired Savings & Loan Kenya
Limited, which specialized in mortgage finance.
In 1988, the first 20 percent of the government's shares in the
company were sold through an
Initial public offering on the Nairobi
Securities Exchange. The government has over the years reduced its
shareholding to 23.6 percent. In the rights issue of 2010, the
government further reduced its shareholding to 17.31 percent.
KCB Tanzania Limited was incorporated in Dar es Salaam in 1997. Since
then, KCB has opened 11 more branches in Tanzania. In May 2006, KCB
extended its operations to
South Sudan following licensing of KCB
Sudan. This subsidiary now has over 20 branches in that country. In
KCB Bank Uganda Limited was opened. KCB currently has
14 branches in Uganda. In December 2008,
KCB Rwanda began operations
with one branch at Kigali. There are currently 11 branches spread out
in the country. In 2012, KCB registered a subsidiary in Burundi, KCB
Burundi, becoming the first bank in the region to be presented in all
African Great Lakes
African Great Lakes countries.
Before 2015, KCB was both a licensed bank and a holding company for
its subsidiaries. In compliance with the
Kenya Finance Act No. 57 of
KCB Group announced in April 2015 its intention to incorporate a
new, wholly owned subsidiary, KCB Bank
Kenya Limited, to which it
would transfer its Kenyan banking business, assets, and liabilities.
The re-organisation converted
KCB Group into a non-trading holding
company that owns both banking and non-banking subsidiary companies.
The shares of
KCB Group are listed on the
Nairobi Securities Exchange
under the symbol KCB. The Group's stock is cross listed on the Dar es
Salaam Stock Exchange , the
Rwanda Stock Exchange , and the Uganda
Securities Exchange .
As of 31 January 2015, the major shareholders in the
KCB Group were
KCB Group Limited Stock Ownership
NAME OF OWNER
National Social Security Fund (Kenya)
Kenya Nominees Ltd., A/C 18965
Standard Chartered Nominees Ltd., Non-Resd. A/C 9038
Standard Chartered Nominees Ltd., Non-Resd. A/C 9069
Kanaksinh Karsandas Babla and Sandip Kana Singh Babla
Standard Chartered Nominees Ltd., A/C 9688
Kenya Nominees Ltd., A/C 20531
Kenya Nominees Ltd., A/C 18972
Standard Chartered Nominees No-Resd. A/C 9867
The chairman of the bank's board of directors is Ngeny Biwott, and
Joshua Oigara is both the managing director and the chief executive
officer of the bank.
The companies that comprise the
KCB Group include, but are not
* KCB Bank
Kenya Limited - Nairobi,
KCB Bank Burundi Limited -
KCB Bank Rwanda Limited -
KCB Bank South Sudan Limited - Juba ,
KCB Bank Tanzania Limited -
Dar es Salaam, Tanzania
KCB Bank Uganda Limited -
* KCB S -webkit-column-width: 30em; column-width: 30em;
* ^ A B Managing Editor (22 December 2015). "
Kenya Commercial Bank
Group Analysis". Nairobi: Kenyanwallstreet.com. Retrieved 20 April
2016. CS1 maint: Extra text: authors list (link )
* ^ Njini, Felix; Ombok, Eric (30 July 2015). "
Bank to Raise Money for Expansion, Projects". Bloomberg. Retrieved 21
* ^ A B KCBGL (22 April 2015). "Ratification of Incorporation of
Wholly Owned Subsidiary And Proposal For The Transfer of Banking
Business, Assets And Liabilities To That Subsidiary" (PDF). Nairobi:
KCB Group Limited (KCBGL). Retrieved 20 April 2016.
* ^ Afandi, Christine (2008-06-16). "Tanzania: KCB is Now Listed At
the Dar Bourse". The East African (Nairobi). Retrieved 2017-08-23.
* ^ Waithaka, James (9 March 2015). "Kenya: KCB Directors Raise Own
Pay By Sh100 Million".
The Star (Kenya) via
AllAfrica.com . Nairobi.
* ^ "NBO:KCBK - Google Finance Search". ww