Kingdom Bank Limited (Kenya), formerly Jamii Bora Bank, is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the national banking regulator.

Location The headquarters of the bank are located at Kingdom Towers (formerly Jamii Bora Towers), along Argwings Kodhek Road, in Kilimani, Nairobi, approximately , by road, west of the city centre. The geographical coordinates of the bank's headquarters are:01°17'35.0"S, 36°47'23.0"E (Latitude:-1.293056; Longitude:36.789722).

History The bank was founded as a charitable trust by 50 destitute families on the streets of Nairobi, Kenya's capital and largest city. In March 2010, it merged with another financial institution with a banking license and transformed into a fully fledged commercial bank. In March 2010, Jamii Bora merged with City Finance Bank (CFB), a small private financial services provider which, in the past, had provided services to large corporations and high-net-worth individuals. In the merger, CFB acquired JBB and took on the name of its new acquisition. Other investors in the bank include Baraka Africa Fund (BAF), and other individual investors.

In March 2020, Co-operative Bank of Kenya, the country's fourth-largest commercial bank, with nearly 10 percent market share of national banking assets, proposed the acquisition of Jamii Bora Bank.

Kingdom Bank was finally acquired and is a subsidiary of the Co-operative Bank of Kenya since its acquisition in August 2020.

The bank has a network of 29 branches, and is expanding.https://www.kingdombankltd.co.ke/about-kingdombank/

Assets In March 2018, the bank's total assets were valued at approximately KSh12.5 billion (US$117 million).

As of December 2023, the bank had total assets of Ksh 36.7 billion, profit before tax amounting to Ksh 1.08 billion, with interest income reaching Ksh 3.7 billion and non-interest income standing at Ksh 533.7 million.

Ownership Jamii Bora Bank is privately owned. A rights issue of US$4 to US$6 million was successfully executed in the 4th quarter of 2010. In November 2011, a new consortium known as Asterisk Holdings, invested KES:410 million (approx:US$4.6 million) in Jamii Bora Bank. Following the acquisition of 90 percent shareholding in the stock of the bank by Cooperative bank of Kenya, the bank ownership was as depicted in the table below, as of August 2020.  

+ Kingdom Bank Limited (Kenya) stock ownershipRank Name of ownerPercentage ownership in 2012Percentage ownership in 20201Asterisk Holdings20.08 2.012ShoreCap II Limited15.25 1.533Jamii Bora Scandinavia AB 12.17 1.224Catalyst JBB Holdings LLC9.65 0.965Nordic Micro Cap Investments7.04 0.706Cornerstone Enterprises Limited 4.69 0.477ESOP4.37 0.448Other investors26.75 2.689Cooperative Bank of Kenya0.00 90.00 Total100.00100.00

Acquisition In March 2020, Co-operative Bank of Kenya, the fourth-largest commercial bank in the country, began the process of acquiring 100 percent shareholding in Jamii Bora Bank. The process required regulatory approvals. On 7 August 2020, Cooperative Bank received all the necessary regulatory approvals to acquire 90 percent shareholding in Jami Bora Bank. On 25 August 2020, the bank re-branded to Kingdom Bank Kenya Limited.

Branches , the bank maintained a network of branches at the following locations:

Bungoma Branch: Yogi Building, Moi Avenue Road, Bungoma Eldoret Branch: Corner House, Kenyatta Street, Eldoret Embu Branch: Njue Plaza, Embu-Nairobi Highway, Embu Gikomba Branch: Kombo Munyiri Road, Nairobi Industrial Area Branch: Lunga Lunga Square, Along Lunga Lunga Rd. Nairobi Kariobangi Branch: Marphic Ark Hotel, Kariobangi, Nairobi Kawangware Branch: Mbugua Plaza Junction, Kawangware, Nairobi Kayole Branch: Pinnacle Centre, Spine Road, Kayole, Nairobi Kiambu Branch: Githunguri Nyakinywa Women Group Building, Kiambu Kikuyu Branch: Red Brick House, Kikuyu Kilimani Branch: Kingdom Bank Towers, Argwings Kodhek Road, Nairobi Kisii Branch: Mocha Place, Kisii-Kisumu Road, Kisii Kisumu Branch: Jubilee House, Oginga Odinga and Angawa Street, Kisumu Kitale Branch: GH Tanna Building, Kenyatta Street, Kitale Kitengela Branch: Newton House, Kitengela Kirinyaga Road Branch: Bits House, River Road, Nairobi Koinange Branch: Winsor House, Muindi Mbingu Street, Nairobi Machakos Branch: Kingdom Bank Building, Mbolu Malu Road, Machakos Meru Branch: Ntima Building, Tom Mboya Street, Meru Mombasa Branch: Khamisi Building, Moi Avenue, Mombasa Mtwapa Branch: Malindi Highway, Mtwapa Bridge, Mzambarauni, Mtwapa Naivasha Branch: KEI Plaza, Biashara Rd, Naivasha Nakuru Branch: Light House, Kenyatta Avenue, Nakuru Nyeri Branch: Frontline Building, Gakere Road, Nyeri Ongata Rongai Branch: Brisma Towers, Ongata Rongai, Nairobi Thika Branch: Kenyatta Avenue, Thika Tom Mboya Branch: Nature House, Tom Moya Street, Nairobi Utawala Branch: Mashariki Mall, Utawala, Nairobi Wangige Branch: Wangige Shopping Centre, Walokana Petrol Station, Kiambu County

Subsidiaries Kingdom Bank has the following subsidiaries:

Kingdom Bancassurance Intermediary Limited (Formerly Jamii Bora Insurance Agency Limited) Kingdom Leasing Limited (Formerly Jamii Bora Leasing Limited)

Governance The five-person board of directors is chaired by Margaret Karangatha. Other board members are Gideon Muriuki, the Cooperative Bank Group managing director, Macloud Malonza, Julius Sitienei and Anthony Mburu, the Kingdom Bank CEO.

See also List of banks in Kenya Central Bank of Kenya Economy of Kenya

References

External links Website of Kingdom Bank Limited Website of Jamii Bora Bank Website of Central Bank of Kenya Case study of Jamii Bora Bank Jamii Bora Investors To Convert KSh400 Million Bonds Into Shares Jamii Bora Profit Jumps 129 Percent On Loan Book Growth The Resilience Of Kenyan Banking Sector