Trisha Shetty

Credit Bank

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Industry  Financial Services
Headquarters  Nairobi
Number of employees  174 (2015)
Website  Homepage
Founded  1986
Type of business  Private
Credit Bank cheshiredisabilityservicesorgimagestlplogoshowc
Key people  Simeon Nyachae Chairman Chege Thumbi Managing Director
Products  Loans, Checking, Savings, Investments, Debit Cards
Revenue  Aftertax:US$600,000 (KES:59.8 million) (2015)
Total assets  US$103.2 million (KES:10.29 billion) (2015)

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Credit Bank Limited (CBL), commonly referred to as Credit Bank, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.

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Overview

The bank is a medium-sized commercial bank in Kenya, East Africa's largest economy. Prior to 2010, the bank's focus was large corporations and upscale businesspeople. In September 2010, Credit Bank changed strategy and transformed into a retail bank, serving all segments of society and their businesses. As of December 2015, the bank's total assets were valued at approximately US$103.2 million (KES:10.29 billion), with shareholders' equity valued at US$13.96 million (KES:1.392 billion). At that time, the bank was ranked number 38, by assets, out of the 43 licensed commercial banks in Kenya.

History

The bank was founded in 1986, as a non-bank financial institution (NBFI); Credit Kenya Limited. In 1995, the institution was awarded a commercial banking license and it rebranded to Credit Bank Limited.

Ownership

As at January 2016, the shares of stock of Credit Bank are privately owned by corporate and individual investors, including the following: In January 2016, Fountain Enterprises Programme Group (FEP) announced plans to acquire a controlling 75 per cent stake in Credit Bank for KSh4 billion (approx. US$40 million), pending approval of the Central Bank of Kenya.

Branches

The bank maintains networked branches at the following locations:

  1. Main Branch - Mercantile House, Koinange Street, Nairobi
  2. Westland Branch - Empress Plaza, Ring Road, Westlands, Nairobi
  3. Industrial Area Branch - 53 Butere Road, Industrial Area, Nairobi
  4. Lavington Branch - Lavington Mall, James Gichuru Road, Lavington, Nairobi
  5. Kisumu Branch - Swan Centre, Oginga Odinga Road, Kisumu
  6. Kitengela Branch - 2nd Floor, Safari House, Namanga Road, Kitengela
  7. Nakuru Branch I - Giddo Plaza, Eldoret-Nakuru Highway, Nakuru
  8. Nakuru Branch II - Polo Centre, Kenyatta Avenue, Nakuru
  9. Kisii Branch - Hospital Road, Kisii
  10. Eldoret Branch - Zion Mall, Uganda Road, Eldoret
  11. Ongata Rongai Branch - Maasai Mall, Magadi Road, Ongata Rongai
  12. Machakos Branch - Mbolu-Malu Road, Machakos
  13. Thika Branch - Second Floor, Biashara Plaza, Maama Ngina Street, Thika
  14. Nyali Branch - Nyali Centre, Link Road, Nyali
  15. New Nairobi Branch - Nairobi
  16. Meru Branch - Meru

References

Credit Bank Wikipedia


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