| Type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 1984 |
| Headquarters | Koinange Street, Nairobi, Kenya |
| Key people | Ashraf Savani Chairman Shamaz Savani Managing Director |
| Products | Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages |
| Revenue | US$5.7+ million (KES:480 million) (2010) |
| Total assets | US$123.2 million (KES:10.35 billion) (2010) |
| Employees | 120+ |
| Website | Homepage |
ABC Bank (Kenya), whose full name is African Banking Corporation Limited, is a commercial bank in Kenya. It is one of the forty-four (44) licensed commercial banks in the country.[1]
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The bank provides banking services to large corporations, medium-sized businesses, small business enterprises as well as individuals. As of December 2010[update], the bank's assets were valued at approximately US$123.2 million (KES:10.35 billion), with shareholders' equity of approximately US$20.3 million (KES:1.705 billion).[2] At that time, the bank was ranked number twenty-three (23), by assets, out of forty-four (44) commercial banks in Kenya.[3]
ABC Bank (Kenya) owns the following subsidiaries, either in whole or in part:[4]
ABC Bank (Kenya) started operations in 1984, as a non-bank financial institution called Consolidated Finance Company. In 1995, after obtaining a banking licence from the Central Bank of Kenya, the institution began commercial banking operations and changed its name to African Banking Corporation Limited, commonly referred to as ABC Bank (Kenya). As of February 2009, the bank offers a variety of banking services including Internet banking and mobile (wireless) banking.
The exact percentage ownership of ABC Bank (Kenya) is not publicly known. In 2008, ABC Bank (Kenya) began negotiations to acquire Capital Finance Corporation Limited, a Tier III Ugandan Financial Institution.[5] A banking license was awarded in 2009 by the Bank of Uganda.[6] Full commercial banking operations in Uganda, commenced in 2010.[7]
As of October 2009, ABC Bank (Kenya) maintains the following branches: [8]