Industry Banking and Finance Headquarters Nairobi Number of employees 530 | Website Homepage Founded 2004 Type of business Private | |
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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.
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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:
Governance
BOA Kenya is governed by a ten-person board of directors with Dennis Awori as Chairman and Ronald Marambii as the Managing Director.