Commercial Bank of Africa Group
 |
|
| Private | |
| Industry | Banking, Finance |
| Founded | 1962 |
| Headquarters | Upper Hill, Nairobi, Kenya |
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Key people
|
Desterio Oyatsi Group Chairman Isaac Awuondo Group CEO |
| Products | Banks |
| Revenue | KSH 10.25 Billion (2013) |
| Total assets | KSH 146 billion (2013) |
|
Number of employees
|
883 (2013) |
| Website | Homepage |
Commercial Bank of Africa Group (CBA Group) is a financial services provider in East Africa. Its headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania and Uganda.
The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania and Uganda. The flagship company of the group is Commercial Bank of Africa, with headquarters in Upper Hill, an upscale suburb of Nairobi, Kenya's capital and largest city.
The CBA Group is a large financial services group in East Africa, with an asset base estimated at almost US$1 billion, with shareholders' equity of approximately US$100 million.
Commercial Bank of Africa was established in 1962 in Dar es Salaam, Tanzania as a subsidiary of Swiss-based Societe Financiere pour les pays D’Outre Mer (SFOM). The SFOM consortium included BanqueNationale de Paris, Bank Bruxelles Lambert, Commerz Bank and Bank of America. Branches of the bank were established in Nairobi and Mombasa, Kenya. Another branch was opened in Kampala, Uganda.
In 1967, the Government of Tanzania nationalized all commercial banks in the country as part of the government's nationalization of large industries in its execution of the Arusha Declaration. This nationalization led the bank to move its headquarters to Nairobi. In 1971, the Ugandan business was sold off to Barclays Bank of Uganda. This was due to the then prevailing political instability in the country.
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Wikipedia