The Info List - KCB Group

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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 * 7 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
, Ethiopia
, and Mozambique


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
South Sudan
following licensing of KCB Sudan. This subsidiary now has over 20 branches in that country. In November 2007, 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 the African Great Lakes
African Great Lakes

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 2012, 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 as follows:


1 Government of Kenya

2 National Social Security Fund (Kenya) 7.52

3 Standard Chartered Kenya
Nominees Ltd., A/C 18965 2.16

4 Standard Chartered Nominees Ltd., Non-Resd. A/C 9038 1.75

5 Standard Chartered Nominees Ltd., Non-Resd. A/C 9069 1.65

6 Kanaksinh Karsandas Babla and Sandip Kana Singh Babla 1.55

7 Standard Chartered Nominees Ltd., A/C 9688 1.51

8 Standard Chartered Kenya
Nominees Ltd., A/C 20531 1.50

9 Standard Chartered Kenya
Nominees Ltd., A/C 18972 1.43

10 Standard Chartered Nominees No-Resd. A/C 9867 1.22


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 limited to:

* KCB Bank Kenya
Limited - Nairobi, Kenya
* KCB Bank Burundi Limited - Bujumbura , Burundi
* KCB Bank Rwanda Limited - Kigali, Rwanda * KCB Bank South Sudan Limited - Juba , South Sudan
South Sudan
* KCB Bank Tanzania Limited - Dar es Salaam, Tanzania * KCB Bank Uganda Limited - Kampala, Uganda
Kampala, Uganda
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* ^ 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). " Kenya
Commercial Bank to Raise Money for Expansion, Projects". Bloomberg. Retrieved 21 April 2016. * ^ 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