Bank of Africa Kenya Limited (BOA Kenya) is a commercial bank in Kenya. It is one of the commercial banks licensed by Central Bank of Kenya, the country's central bank and the national banking regulator.
Overview BOA Kenya is a mid-tier bank and is ranked 15th out of the 42 commercial banks in Kenya by the CBK. The bank provides banking services to corporations, SMEs, investment groups, and individuals. As at 31 December 2019, the bank's total assets were valued at KES:43.996 billion (US$403.27 million), with shareholders' equity valued at KSh4.28 billion (approx. USD39.2 million. The bank's customer base was in excess of 100,000, as of March 2016.
History The bank traces its roots from Calyon Bank (formally Credit Agricole Indosuez) which was founded in 1981. In April 2004, Groupe Bank of Africa (BOA Group) acquired the operations of Credit Agricole Indosuez in Kenya and incorporated them into its newly formed subsidiary BOA Kenya. This transaction was completed on June 30, 2004.
BOA Kenya has invested in BOA Uganda (52.72%), making it a subsidiary and a 24.1% stake in BOA Tanzania, making it an associate.
Ownership BOA Kenya is a member of the Mali based Bank of Africa Group. , shareholding in the bank's stock was as depicted below:
+ BOA Kenya stock ownership Rank Name of ownerPercentage ownership1Bank of Africa Benin 2Bank of Africa Group 3Netherlands Development Finance Company (FMO)4Bank of Africa Madagascar 5Bank of Africa Ivory Coast 6Bank of Africa (Red Sea)7Agora S.A.* Total
Note: Bank of Africa Group is a subsidiary of Moroccan based Banque Marocaine du Commerce Exterieur.
Governance BOA Kenya is governed by a ten-person board of directors, with Dennis Awori as chairman and Ronald Marambii as managing director.
See also
List of banks in Kenya Bank of Africa Bank of Africa Ghana Limited Bank of Africa Rwanda Limited Bank of Africa Uganda Limited
References