Credit Bank Limited (CBL), commonly referred to as Credit Bank, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.
Overview The bank is a medium-sized commercial bank in Kenya, East Africa's largest economy. Prior to 2010, the bank's focus was large corporations and upscale business-people. In September 2010, Credit Bank changed strategy and transformed into a retail bank, serving all segments of society and their businesses. , the bank's total assets were valued at approximately US$178.28 million (KES:17.805 billion), with shareholders' equity valued at US$28.67 million (KES:2.86 billion).
History The bank was founded in 1986 as the non-bank financial institution (NBFI) Credit Kenya Limited. In 1995, the institution was awarded a commercial banking license and it rebranded to Credit Bank Limited.
Ownership As at January 2016, the shares of stock of Credit Bank are privately owned by corporate and individual investors. In January 2016, Fountain Enterprises Programme Group (FEP) announced plans to acquire a controlling 75 per cent stake in Credit Bank for KSh4 billion (approx. US$40 million), pending approval of the Central Bank of Kenya. As of June 2019, the major shareholders in the bank's stock were as depicted in the table below:
+ Credit Bank Limited stock ownership Rank Name of ownerPercentage ownership1Nyachae’s Sansora Group2Sanama Investment 2Ketan Morjaria3Jay Karia4Fountain Enterprises Programme Group (FEP)5Others Total
Branches The bank maintains networked branches at the following locations:
Main Branch - Mercantile House, Koinange Street, Nairobi Westland Branch - Empress Plaza, Ring Road, Westlands, Nairobi Industrial Area Branch - 53 Butere Road, Industrial Area, Nairobi Lavington Branch - Lavington Mall, James Gichuru Road, Lavington, Nairobi Kisumu Branch - Swan Centre, Oginga Odinga Road, Kisumu Kitengela Branch - 2nd Floor, Safari House, Namanga Road, Kitengela Nakuru Branch I - Giddo Plaza, Eldoret-Nakuru Highway, Nakuru Kisii Branch - Hospital Road, Kisii Mombasa Nkrumah Branch - Taiyebi House, Nkrumah Road, Mombasa Eldoret Branch - Zion Mall, Uganda Road, Eldoret Ongata Rongai Branch - Maasai Mall, Magadi Road, Ongata Rongai Machakos Branch - Mbolu-Malu Road, Machakos Thika Branch - Second Floor, Biashara Plaza, Mama Ngina Street, Thika Nyali Branch - Nyali Centre, Link Road, Nyali One Africa Branch - 2nd Floor, One Africa Place, Waiyaki Way, Westlands, Nairobi New Nairobi Branch - Nairobi Meru Branch - Meru Eldoret Branch - Kerio Valley Development Authority Building, Oloo Street, Eldoret
See also
List of banks in Kenya Central Bank of Kenya Economy of Kenya
References
External links Website of Central Bank of Kenya Website of Credit Bank Limited Nyachae-linked bank seeks Sh5.4 billion diaspora buyout