Industry Financial Services Type of business Private | Website Homepage Founded 1992 | |
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Key people R.C. KantariaChairmanBharat JaniManaging Director Revenue Aftertax:US$16.6 million (KES:1.44 billion) (2013) Total assets 570 million USD (2013, KES:49.5 billion) | ||
Prime Bank (Kenya) Limited (PBKL), commonly known as Prime Bank Kenya, but also referred to as Prime Bank (Kenya), is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by Central Bank of Kenya (CBK), the central bank and national banking regulator.
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Overview
The bank is a medium-sized retail bank that caters to both individuals and corporate clients. As of December 2014, the bank's total asset base was estimated at approximately US$570 million (KES:49.5 billion), with shareholders' equity of about US$67 million (KES:5.816 billion). At that time, the bank ranked number 16, by assets, out of 43 licensed commercial banks in Kenya.
Subsidiaries
The bank has three subsidiaries:
- Prime Capital & Credit Limited (PCCL) – Based in Nairobi, Kenya is owned 100% by Prime Bank (Kenya).
- First Merchant Bank – A retail bank based in Blantyre, Malawi – Prime Bank (Kenya) has a 22.48% shareholding in First Merchant Bank. 11.24% is held directly by PBKL while the remaining 11.24% is held through its 100% subsidiary, PCCL.
- Capital Bank – A commercial bank based in Gaborone, Botswana, is 51% owned by First Merchant Bank of Malawi, in which Prime Bank (Kenya) has 22.48% shareholding. Therefore, Prime Bank (Kenya) owns 11.46% of Capital Bank of Botswana.
Branch network
As of August 2014, the bank maintains a network of 19 branches in Kenya's major urban centers.
Ownership
The stock of the bank is privately held. The detailed shareholding in Prime Bank (Kenya) is not publicly known.
Governance
R. C. Kantaria, a non-executive director of the bank, serves as the Chairman of the seven-member board of directors. Bharat Jani is the Managing Director of Prime Bank (Kenya).