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Bank of Africa Kenya Limited

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Covid-19
Industry  Banking and Finance
Headquarters  Nairobi
Number of employees  530
Website  Homepage
Founded  2004
Type of business  Private
Bank of Africa Kenya Limited banksdailycomlogo1653gif
Predecessor  Calyon Bank Kenya Limited
Key people  Dennis Awori Chairman Ronald Marambii Managing Director
Products  Loans, mortgages, investments, debit cards, credit cards
Total assets  US$771.18 million (KES:77.08 billion) (2014)
Revenue  10.2 million USD (KES:1.02 billion, 2015)

Bank of Africa Kenya Limited (BOA Kenya), is a commercial bank in Kenya. It is one of the commercial banks licensed by Central Bank of Kenya, the country's central bank and the national banking regulator.

Contents

Overview

BOA Kenya is a mid-tier bank and is ranked 15th out of the 42 commercial banks in Kenya by the CBK. The bank provides banking services to corporate, SMEs, investment groups as well as individuals. As at 31 December 2014, the bank's total assets were valued at KSh77.08 billion (approx. USD771.18 million), with shareholders' equity valued at KSh8 billion (approx. USD80.04 million. The bank's customer base is in excess of 100,000, as of March 2016.

History

The Bank traces its roots from Calyon Bank (formally Credit Agricole Indosuez) which was founded in 1981. In April 2004, Groupe Bank of Africa (BOA Group) acquired the operations of Credit Agricole Indosuez in Kenya and incorporated them into its newly formed subsidiary BOA Kenya. This transaction was completed on June 30, 2004.

BOA Kenya has invested in BOA Uganda (52.72%), making it a subsidiary and a 24.1% stake in BOA Tanzania, making it an associate.

Ownership

BOA Kenya is a member of the Mali based Bank of Africa Group. As of December 2013, shareholding in the bank's stock was as depicted below:

Note:

  • Bank of Africa Group owns a substantial stake in the firms with asterisks (*).
  • Bank of Africa Group is a subsidiary of Moroccan based Banque Marocaine du Commerce Exterieur.
  • Governance

    BOA Kenya is governed by a ten-person board of directors with Dennis Awori as Chairman and Ronald Marambii as the Managing Director.

    References

    Bank of Africa Kenya Limited Wikipedia


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