Credit Bank


Credit Bank Limited, commonly referred to as Credit 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.

Overview

The bank is a medium-sized commercial bank in Kenya, East Africa's largest economy. Prior to 2010, the bank's focus was large corporations and upscale business-people. In September 2010, Credit Bank changed strategy and transformed into a retail bank, serving all segments of society and their businesses., the bank's total assets were valued at approximately US$178.28 million, with shareholders' equity valued at US$28.67 million.

History

The bank was founded in 1986 as the non-bank financial institution Credit Kenya Limited. In 1995, the institution was awarded a commercial banking license and it rebranded to Credit Bank Limited.

Ownership

As at January 2016, the shares of stock of Credit Bank are privately owned by corporate and individual investors. In January 2016, Fountain Enterprises Programme Group announced plans to acquire a controlling 75 per cent stake in Credit Bank for KSh4 billion, pending approval of the Central Bank of Kenya. As of June 2019, the major shareholders in the bank's stock were as depicted in the table below:
RankName of ownerPercentage ownership
1Nyachae’s Sansora Group14.96
2Sanama Investment14.34
2Ketan Morjaria9.88
3Jay Karia8.61
4Fountain Enterprises Programme Group 5.00
5Others47.21
Total100.00

Branches

The bank maintains networked branches at the following locations:
  1. Main Branch - Mercantile House, Koinange Street, Nairobi
  2. Westland Branch - Empress Plaza, Ring Road, Westlands, Nairobi
  3. Industrial Area Branch - 53 Butere Road, Industrial Area, Nairobi
  4. Lavington Branch - Lavington Mall, James Gichuru Road, Lavington, Nairobi
  5. Kisumu Branch - Swan Centre, Oginga Odinga Road, Kisumu
  6. Kitengela Branch - 2nd Floor, Safari House, Namanga Road, Kitengela
  7. Nakuru Branch I - Giddo Plaza, Eldoret-Nakuru Highway, Nakuru
  8. Kisii Branch - Hospital Road, Kisii
  9. Mombasa Nkrumah Branch - Taiyebi House, Nkrumah Road, Mombasa
  10. Eldoret Branch - Zion Mall, Uganda Road, Eldoret
  11. Ongata Rongai Branch - Maasai Mall, Magadi Road, Ongata Rongai
  12. Machakos Branch - Mbolu-Malu Road, Machakos
  13. Thika Branch - Second Floor, Biashara Plaza, Mama Ngina Street, Thika
  14. Nyali Branch - Nyali Centre, Link Road, Nyali
  15. One Africa Branch - 2nd Floor, One Africa Place, Waiyaki Way, Westlands, Nairobi
  16. New Nairobi Branch - Nairobi
  17. Meru Branch - Meru
  18. Eldoret Branch - Kerio Valley Development Authority Building, Oloo Street, Eldoret