Industry Financial Services Founded 1968 | Traded as KN: NBK CEO Wilfred Musau (2016–) Number of employees 1,079 | |
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Key people Mohamed A. HassanChairmanWilfred MusauActing Managing Director Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards Revenue Aftertax:US$11.6 million (KES:1.15 billion) (2015) Total assets 1.07 billion USD (2013, KES:92.5 billion) Subsidiaries NBK Insurance Agency Limited Profiles | ||
National Bank of Kenya (NBK), also known as National 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
NBK is a large financial services provider in Kenya, serving individuals, small-to-medium companies and businesses (SMEs) and large corporations. Headquartered in Nairobi, the bank owns one subsidiary company: NatBank Trustee and Investment Services Limited. As of December 2013, National Bank of Kenya's asset base was valued at approximately US$1.07 billion (KES:92.5 billion), with shareholders' equity valued at about US$137.2 million (KES:11.85 billion). At that time, National Bank of Kenya was ranked number eleven, by assets, among the forty-three commercial banks licensed in the country then. The stock of National Bank of Kenya is listed on the Nairobi Stock Exchange, where it trades under the symbol: NBK.
History
The bank was established in 1968 as a 100% government-owned financial institution. In 1994, the Kenyan Government reduced its shareholding to 68% by selling 32% shareholding to the public. The government further divested from NBK over the years, until its present shareholding of 22.5%, as of August 2014. Following 12 years of poor financial performance, the bank became profitable again in 2010, paying out an annual dividend every year since.
Subsidiaries
The bank owns the following subsidiary companies in which it has 100% shareholding
- Natbank Trustee and Investment Services Limited: Nairobi,
- Kenya National Capital Corporation Limited: Nairobi,
- NBK Insurance Agency Limited: Nairobi,
Ownership
As of December 2013, the stock of National Bank of Kenya is owned by the following corporate entities and individuals: