Paramount Universal Bank

Paramount Bank, is a commercial bank in Kenya. It is one of the forty-four commercial banks licensed by the Central Bank of Kenya, the national banking regulator.^[1]

Paramount Bank

Company type	Private company
Industry	Financial services
Founded	1993 (1993)
Headquarters	Nairobi, Kenya
Products	Transaction accounts, Savings, Investments, Debit Cards
Website	www.paramountbank.co.ke

Paramount Bank is a small retail bank in Kenya. As of December 2013^[update], the bank was ranked number 37, by assets, out of 43 licensed commercial banks in the country.^[2] The bank is an active member of the MoneyGram money transfer network.

History

The bank was established in 1993, as a deposit-taking, non-bank financial institution called Combined Finance Limited. The company's share capital at that time was approximately US$300,000 (KES:25 million). In 1995, after increasing its share capital and following the issuance of a commercial banking license, the company rebranded to Paramount Bank Limited, and began banking operations. In 2000, Paramount Bank merged with Universal Bank Limited to form Paramount Universal Bank.^[3][4]

Ownership

As of August 2014^[update], Paramount Universal Bank is a privately held company whose owners are not publicly known.

Branch network

The bank maintains a network of branches at the following locations, as of January 2015:^[5]

1. Westlands Branch - Sound Plaza, Woodvale Grove, Westlands, Nairobi (main branch)
2. Parklands Branch - Amani Plaza, 3rd Parklands Avenue, Parklands, Nairobi
3. Kimathi House Branch - Kimathi House, City Centre, Nairobi
4. Koinange Street Branch - Paramount Bank House, Koinange Street, Nairobi
5. Mombasa Branch - Jubilee Building, Moi Avenue, Mombasa
6. Eldoret Branch - Karims Hardware Building, Oloo Street, Eldoret
7. Industrial area Branch - Dar es Salaam Road Nairobi

See also

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