Type Private Website Homepage Founded 1992 | ||
Key people C. J. GidoomalChairmanSanjay GidoomalExecutive Director Total assets US$157.67 million (KES:13.623 billion) (2013) Revenue 4.375 million USD (2013, KES:378.05 million) | ||
Giro Commercial Bank (GCB), whose full name is Giro Commercial Bank Limited, 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
As of December 2013, the total asset base of Giro Commercial Bank was valued at approximately US$157.67 million (KES:13.623 billion), with shareholders' equity of approximately US$24.15 million (KES:2.086 billion). Then, the bank held US$132.6 million (KES:11.457 billion), in customer deposits. At that time, the bank was ranked number 29 out of 43 licensed banks in Kenya, then.
In market share, Giro Commercial Bank was ranked 27 out of 44 banks with a share of 0.49 per cent as at December 2014.
History
The bank was established as Giro Bank Limited in 1992. In 1998, Giro Bank merged with Commercial Bank Limited, to form Giro Commercial Bank Limited. The stock of the bank is privately owned by individuals and institutions.
On September 7, 2015, I&M Holdings announced the acquisition of Giro Commercial Bank and merging of its business with that of I&M Bank Kenya. The process is awaiting regulatory approval.
Branch network
As of August 2014, the bank operates a network of branches at the following locations:
- Head Office - Giro House, Eldama Park, Nairobi
- Banda Street Branch - Hughes Building, Banda Street, Nairobi
- Industrial Area Branch - Dunga Road, Industrial Area, Nairobi
- Kisumu Branch - Giro House, Oginga Odinga Road, Kisumu
- Mombasa Branch - Pan Africa House, Moi Avenue, Mombasa
- Parklands Branch - 3rd Parklands Avenue, Ridge Court, Parklands, Nairobi
- Westlands Branch - Bandari Plaza, Woodvale Grove, Westlands, Nairobi.