Credit Bank

Credit Bank Limited (CBL), commonly referred to as Credit Bank, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.^[2]

Credit Bank

Company type	Private
Industry	Financial services
Founded	1986
Headquarters	Nairobi, Kenya
Key people	Simeon Nyachae (chairman) Betty Maritim Korir (managing director)
Products	Loans, checking, savings, investments, debit cards
Revenue	Aftertax: US$2.56 million (KES: 256 million) (2018)[1]
Total assets	US$200million (KES: 27.805 billion) (2018)[1]
Website	creditbank.co.ke

Overview

The bank is a medium-sized commercial bank in Kenya, East Africa's largest economy. Prior to 2010, the bank's focus was large corporations and upscale business-people. In September 2010, Credit Bank changed strategy and transformed into a retail bank, serving all segments of society and their businesses. As of December 2018^[update], the bank's total assets were valued at approximately US$178.28 million (KES:17.805 billion), with shareholders' equity valued at US$28.67 million (KES:2.86 billion).^[1]

History

The bank was founded in 1986 as the 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.^[3]

Ownership

As at January 2016, the shares of stock of Credit Bank are privately owned by corporate and individual investors.^[4] In January 2016, Fountain Enterprises Programme Group (FEP) announced plans to acquire a controlling 75 per cent stake in Credit Bank for KSh4 billion (approx. US$40 million), pending approval of the Central Bank of Kenya.^[5] As of June 2019, the major shareholders in the bank's stock were as depicted in the table below:^[6]

Credit Bank Limited stock ownership

Rank	Name of owner	Percentage ownership
1	Nyachae’s Sansora Group	14.96[6]
2	Sanama Investment	14.34[6]
2	Ketan Morjaria	9.88[6]
3	Jay Karia	8.61[6]
4	Fountain Enterprises Programme Group (FEP)[7]	5.00
5	Others	47.21
	Total	100.00

Branches

The bank maintains networked branches at the following locations:^[8]

1. Main Branch - Mercantile House, Koinange Street, Nairobi
2. Westland Branch - Empress Plaza, Ring Road, Westlands, Nairobi
3. Industrial Area Branch - 53 Butere Road, Industrial Area, Nairobi
4. Lavington Branch - Lavington Mall, James Gichuru Road, Lavington, Nairobi
5. Kisumu Branch - Swan Centre, Oginga Odinga Road, Kisumu
6. Kitengela Branch - 2nd Floor, Safari House, Namanga Road, Kitengela
7. Nakuru Branch I - Giddo Plaza, Eldoret-Nakuru Highway, Nakuru
8. Kisii Branch - Hospital Road, Kisii
9. Mombasa Nkrumah Branch - Taiyebi House, Nkrumah Road, Mombasa
10. Eldoret Branch - Zion Mall, Uganda Road, Eldoret
11. Ongata Rongai Branch - Maasai Mall, Magadi Road, Ongata Rongai
12. Machakos Branch - Mbolu-Malu Road, Machakos
13. Thika Branch - Second Floor, Biashara Plaza, Mama Ngina Street, Thika
14. Nyali Branch - Nyali Centre, Link Road, Nyali
15. One Africa Branch - 2nd Floor, One Africa Place, Waiyaki Way, Westlands, Nairobi
16. New Nairobi Branch - Nairobi^[7]
17. Meru Branch - Meru^[7]
18. Eldoret Branch - Kerio Valley Development Authority Building, Oloo Street, Eldoret^[9]

See also

• Banks portal

• List of banks in Kenya
• Central Bank of Kenya
• Economy of Kenya