Credit Bank

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Credit Bank
Type Private
Industry Financial Services
Founded 1986
Headquarters Nairobi, Kenya
Key people Sunil Sahdev
Managing Director
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue Increase Aftertax:US$569,600 (KES:47 million) (2011)
Total assets US$63.3 million (KES:5.4 billion) (2011)

Credit 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.[1]

Overview

The bank is a small-sized commercial bank in Kenya, East Africa's largest economy. Prior to 2010, the bank's focus was large corporations and upscale businesspeople. In September 2010, Credit Bank changed strategy and transformed into a retail bank, serving all segments of society and their businesses. As of December 2011, Credit Bank's total assets were valued at approximately US$63.3 million (KES:5.4 billion), with shareholders' equity estimated at US$11.6 million (KES:958 million).[2] The bank is in the process of raising shareholders' capital to US$18 million (KES:1.5 billion), by the end of 2012.[3]

History

The bank was founded in 1986, as a 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.[4]

Ownership

The shares of stock of Credit Bank are privately owned. The detailed shareholding in the bank is not publicly known at this time.

Branches

The bank maintains networked branches at the following locations:[5]

  1. Main Branch - Mercantile House, Koinange Street, Nairobi
  2. Kisii Branch - Hospital Road, Kisii
  3. Kisumu Branch - Swan Centre, Oginga Odinga Road, Kisumu
  4. Nakuru Branch - Giddo Plaza, Eldoret-Nakuru Highway, Nakuru
  5. Westland Branch - Empress Office Suite, Ring Road, Parklands
  6. Industrial Area Branch - Butere Road, Nairobi

See also

External links

References

  1. ↑ List of Licensed Commercial Banks in Kenya
  2. ↑ Audited December 2011 Financial Report
  3. ↑ Credit Bank Plans KES:100 Million IT System Upgrade
  4. ↑ The History of Credit Bank
  5. ↑ List Credit Bank Branches
Central bank
Commercial bank
Financial services organization
Related Topics
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