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ABC Bank (Kenya)

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Industry  Financial Services
Number of employees  300
Founded  1984
Website  www.abcthebank.com
Headquarters  Nairobi
Type of business  Private
ABC Bank (Kenya) wwwbankskenyacomimagesbanksabcbankjpg
Key people  Richard Omwela (Chairman) Shamaz Savani (Group Managing Director)
Products  Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Total assets  US$227.6 million (KES:19.64 billion) (2013)
Revenue  4.894 million USD (KES:422.33 million, 2013)

ABC Bank (Kenya), whose full name is African Banking Corporation Limited, is a commercial bank in Kenya. It is one of the forty-three licensed commercial banks in the country.

Contents

The bank provides banking services to large corporations, medium-sized businesses, small business enterprises as well as individuals. As of December 2013, the bank's assets were valued at approximately US$227.6 million (KES:19.64 billion), with shareholders' equity of approximately US$28.4 million (KES:2.45 billion). At that time, the bank was ranked number 23, by assets, out of 43 commercial banks in Kenya.

History

ABC Bank (Kenya) started operations in 1984, as a non-bank financial institution called Consolidated Finance Company. In 1995, after obtaining a banking license 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).

In 2008, ABC Bank (Kenya) began negotiations to acquire Capital Finance Corporation Limited, a Tier III Ugandan Financial Institution. A commercial banking license was awarded in 2009 by the Bank of Uganda. Full commercial banking operations in Uganda, commenced in 2010. In February 2010, the bank rebranded to ABC Capital Bank. ABC Bank holds a 68% shareholding in ABC Capital Bank based in neighboring Uganda.

As of July 2014, the bank offers a variety of banking services including Internet banking and mobile (wireless) banking.

Subsidiaries

ABC Bank (Kenya) owns the following subsidiaries, either in whole or in part:

  1. ABC Capital Bank, Kampala, Uganda (Commercial Bank) - 68% shareholding
  2. ABC Capital Limited, Nairobi, Kenya (Stock brokerage) - 100% shareholding
  3. ABC Insurance Limited, Nairobi, Kenya (Insurance brokerage) - 100% shareholding.

Branch network

As of August 2014, ABC Bank (Kenya) maintains the following branches:

Head Office - ABC Bank House, Woodvale Grove,Westlands, Nairobi

  1. Westlands Branch - Westlands, Nairobi
  2. Koinange Street Branch - Koinange Street, Nairobi
  3. Libra House Branch - Libra House, Mombasa Road, Nairobi
  4. Industrial Area Branch - ABC Bank Building, Dar es Salaam Road, Nairobi
  5. Kisumu Branch - Jubilee House, Oginga Odinga Road, Kisumu
  6. Meru Branch - Moi Avenue, Meru
  7. Eldoret Branch - Zul Arcade, Oginga Odinga Road, Eldoret
  8. Mombasa Branch - Shariff Nasser Investment Building, Moi Avenue, Mombasa
  9. Nakuru Branch - Saifee House, Kenyatta Avenue, Nakuru
  10. Lamu Branch - Seafront, Lamu

References

ABC Bank (Kenya) Wikipedia


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