First Community Bank

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For the Bluefield, Virginia, USA bank, see First Community Bancshares.
First Community Bank
Type Private
Industry Financial Services
Founded 2007
Headquarters Nairobi, Kenya
Key people Hassan Varvani, Chairman
Nathif J. Adam, Managing Director
Products Checking, Savings, Investments, Debit Cards
Total assets US$65 million (December 2009) (Estimate)
Website Homepage

First Community Bank (FCB), 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]

History

The bank was established according the Sharia law, in 2007 by Muslims in Kuwait, Kenya and Tanzania.[2] It received a Kenyan commercial banking license in 2007 and started operations in June 2008. It is the first Kenyan bank to operate according to the laws of Sharia.[3] As of December 2009, the bank was a small commercial bank, ranked number 35 out of 44 commercial banks by assets. As a result of that ranking, the bank's estimated total assets are about US$65 million.[4] Since its founding, another Sharia bank, Gulf African Bank, has received a commercial license from the Central Bank of Kenya.[5]

Ownership

As of November 2010, First Community Bank is a privately held company whose owners are not publicly known.

Subsidiaries

The bank has one subsidiary, FCB Takful Insurance Agency, in which it maintains 100% shareholding. The insurance agency was established in 2010.[6]

Branch network

The bank maintains a network of branches at the following locations: [7]

  1. Wabera Street Branch - Prudential Assurance Building, Wabera Street, Nairobi
  2. First Avenue Branch - United Textile Building, 1st Avenue, Eastleigh, Nairobi
  3. Waruinge Street Branch - General Waruinge Street, Eastleigh, Nairobi
  4. Kimathi Street Branch - Jamia Mosque, Nairobi
  5. Westlands Branch - Mpaka Plaza, Mpaka Road, Westlands, Nairobi
  6. South C Branch - South C Shopping Center, Nairobi
  7. Garissa Branch - Bajweed Building, Wajir Road, Garissa
  8. Habaswein Branch - DC Road, Habaswein
  9. Industrial Area Branch - Enterprise Road, Industrial Area, Nairobi
  10. Kisumu Branch - CAC House, Oginga Odinga Street, Kisumu
  11. Nakuru Branch - Merica Hotel Building, Kenyatta Avenue, Nakuru
  12. Malindi Branch - Malindi Shopping Complex, Lamu Road, Malindi
  13. Mandera Branch - Mandera - (under construction)
  14. Masalani Branch - Masalani
  15. Mombasa Branch Number One - Shah Mansion Building, Digo Road, Mombasa
  16. Mombasa Branch Number Two - Kazingo Road, Mombasa
  17. Moyale Branch - Sharriff Guest House, Moyale
  18. Wajir Branch - Mandera Road, Wajir

Governance

The bank is governed by a seven-person Board of Directors. Hassan Varvani, one of the non-Executive Directors is the Chairman of the Board. The Managing Director is Nathif J. Adam.[8]

External links

See also

References

  1. ↑ List of Licensed Commercial Banks in Kenya
  2. ↑ Kenya's First Islamic Bank Steps Up Staff Recruitment
  3. ↑ History of First Community Bank
  4. ↑ December 2009 Rankings of Kenyan Commercial Banks By Assets
  5. ↑ Key Facts On Kenya's Banking Sector
  6. ↑ First Community Bank Ventures Into Insurance
  7. ↑ Branches of First Community Bank
  8. ↑ Board of Directors of First Community Bank
Subdivisions of Nairobi, Kenya
Neighbourhoods
County Divisions
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