Industry Financial services Founded 1981 | Website Homepage Headquarters Nairobi | |
 | ||
Key people A.A.K. Esmail
Chairman
Dhirendra Rana
Managing Director Total assets 70 million USD (2012, KES:5.87 billion) Revenue 513,500 USD (KES:44.342 million, 2012) | ||
Middle East Bank Kenya (MEBK), whose full name is Middle East Bank Kenya Limited, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya (CBK), the central bank and national banking regulator.
Contents
Overview
The bank is a small but growing retail bank, that focuses on meeting the needs of large corporations and high-net-worth individuals. As of December 2013, the bank was ranked number 41, by assets, out of a total of 43 commercial banks in Kenya. As of December 2012, the bank's total assets were valued at about US$70 million (KES:5.87 billion), with shareholders' equity of approximately US$13 million (KES:1.124 billion).
History
Middle East Bank Kenya started operations in Kenya in August 1981, after receiving a banking licence from the Central Bank of Kenya, the national banking regulator. The initial shareholders in the bank were the Al-Futtaim Group, affiliated with the Middle East Bank Group of United Arab Emirates. In 1991, the Al-Futtaim Group divested from the bank, leaving shareholding in Kenyan hands. In 1995, Banque Belgolaise, a Belgian financial institution acquired 25% shareholding in Middle East Bank Kenya, becoming the single largest shareholder. As a result of multiple bank mergers and acquisitions, that 25% shareholding subsequently came to be owned by BNP Paribas Fortis. 75% shareholding remains in private Kenyan hands.
Ownership
The shares of stock of Meddle East Bank Kenya are privately held. The largest single shareholder, with 25% shareholding, is BNP Paribas Fortis, a Belgian financial services provider that is a subsidiary of BNP Paribas, a French banking conglomerate that is the largest banking group in the world. Shareholding in Meddle East Bank is depicted in the table below:
Branch network
As of August 2010, the bank maintains its headquarters in Nairobi, Kenya's capital and largest city. It has three branches; two in Nairobi and another in Mombasa, Kenya's second-largest city.