Industry Financial Services Number of employees 300 Founded 1984 | Website www.abcthebank.com Type of business Private | |
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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.
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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:
- ABC Capital Bank, Kampala, Uganda (Commercial Bank) - 68% shareholding
- ABC Capital Limited, Nairobi, Kenya (Stock brokerage) - 100% shareholding
- 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
- Westlands Branch - Westlands, Nairobi
- Koinange Street Branch - Koinange Street, Nairobi
- Libra House Branch - Libra House, Mombasa Road, Nairobi
- Industrial Area Branch - ABC Bank Building, Dar es Salaam Road, Nairobi
- Kisumu Branch - Jubilee House, Oginga Odinga Road, Kisumu
- Meru Branch - Moi Avenue, Meru
- Eldoret Branch - Zul Arcade, Oginga Odinga Road, Eldoret
- Mombasa Branch - Shariff Nasser Investment Building, Moi Avenue, Mombasa
- Nakuru Branch - Saifee House, Kenyatta Avenue, Nakuru
- Lamu Branch - Seafront, Lamu