Type Private Headquarters Nairobi Founded 2005 | Industry Financial Services Motto The Pan African Bank Parent organization Ecobank | |
Key people Mohammed Nyaoga
Chairman
Ehouman Kassi
Managing Director Products Loans, Savings, Investments, Debit Cards, Credit Cards, Mortgages Revenue Aftertax:US$-10.3 million (KES:-890 million) (2013) Total assets US$427.6 million (KES:36.9 billion) (2013) Profiles | ||
Ecobank kenya partners with old mutual saham insurance and uap in insurance cover provision
Ecobank Kenya is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the central bank and national banking regulator.
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Ecobank kenya launches a new mobile application
Overview
On 16 June 2008, Ecobank Transnational Incorporated (ETI) acquired 75% of EABS Bank, which had been licensed in 2005. The bank changed its name to Ecobank Kenya Limited, to reflect the new shareholding. Later, ETI increased its shareholding in the bank, to 95.67% as at 3 July 2013. As of December 2013, Ecobank Kenya had total assets valued at approximately KES:36.9 billion (US$427.6 million), with shareholders' equity of about KES:3.39 billion (US$39.3 million).
Ecobank network
Ecobank Kenya is a member of Ecobank Transnational, the leading independent pan-African bank, headquartered in Lomé, Togo with affiliates in West Africa, Central Africa, East Africa and Southern Africa. Ecobank, which was established in 1985, has grown to a network of over 600 branches, employing over 10,000 people, with offices in 33 countries including Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Republic of Congo, Democratic Republic of Congo, Equatorial Guinea, France, Gabon, Ghana, Guinea, Guinea Bissau, Ivory Coast, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome, Senegal, Sierra Leone, South Sudan, Tanzania, The Gambia, Togo, Uganda, Zambia and Zimbabwe. Ecobank Transnational also maintains representative offices in the following countries: 1. Angola 2. China 3. Ethiopia 4. South Africa and 5. United Arab Emirates.
Parent company
Ecobank Transnational Inc. (ETI) is the parent company of the Ecobank Group which includes the following specialized subsidiaries:
The stock of ETI is traded on three African stock exchanges, namely; the Ghana Stock Exchange (GSE), the Nigerian Stock Exchange (NSE) and the BRVM stock exchange in Abidjan, Ivory Coast.
Ownership
Ecobank Kenya is 100% owned by Ecobank Transnational.
Governance
The Chairman of the 10-person Board of Directors is Mohammed Nyaoga, a lawyer and non-executive director. Samuel Ashitey Adjei, serves as the Managing Director and CEO.
Branch Network
As of August 2014, the bank maintains 29 networked branches in Kenya. In October 2016, Ecobank Kenya notified the public and its customers of its plans to close nine of its twenty-nine branches, to reduce the number to 20, by end of April 2017.