Kenya Commercial Bank
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Kenya Commercial Bank (KCB Bank Kenya) is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the central bank and national banking regulator.
KCB Bank Kenya was among the three largest commercial banks in Kenya with assets of more than US$2.65 billion (KES:223 billion). The other two large Kenyan commercial banks are Barclays Bank Kenya and Standard Chartered Bank Kenya.
KCB Bank Kenya roots trace back to July 1896 when its parent company, KCB Group, was formed as a branch of the National Bank of India in Mombasa. In 1958,Grindlays Bank merged with the National Bank of India to form the National and Grindlays Bank. Upon independence, the Government of Kenya acquired 60% shareholding in National & Grindlays Bank in an effort to bring banking closer to the majority of Kenyans. In 1970, the Government took full control of the Bank and renamed it to Kenya Commercial Bank Group.
KCB Bank Kenya, as we now know it, was incorporated in 2015 as a result of the corporate restructure of Kenya Commercial Bank Group (KCB Group) Prior to November 2014, Prior to 2015, KCB Group was both a licensed bank and a holding company for its subsidiaries.This was in compliance with the Kenya Finance Act No.57 of 2012.
KCB Group announced in April 2015 of its intention to incorporate a new wholly owned subsidiary, KCB Bank Kenya Limited, to which it would transfer its Kenyan banking business, assets and liabilities. The re-organisation converted KCB Group into a non-trading holding company that owns both banking and non-banking subsidiary companies.
KCB Bank Kenya is a wholly owned subsidiary of the KCB Group. Making it a member of the KCB Group.