First Community Bank
| Private | |
| Industry | Financial Services |
| Founded | 2007 |
| Headquarters | Nairobi, Kenya |
|
Key people
|
Hassan Varvani Chairman Nathif Jama Adam Managing Director Omar Sheik General Manager |
| Products | Checking, Savings, Investments, Debit Cards |
| Revenue |
 Aftertax:US$1.518 million (KES:131.202 million) (2013) |
| Total assets | US$130.85 million (KES:11.305 billion) (2013) |
| Website | www |
First Community Bank (FCB), 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.
As of December 2013[update], the bank's total assets were valued at about US$130.85 million (KES:11.305 billion), with shareholders' equity of about US$14 million (KES:1.21 billion), and customer deposits of US$115 million (KES:9.932 billion). At that time, the bank was ranked number 33, by assets, out of 43 licensed banks in Kenya then.
First Community Bank was established in 2007 according to Sharia law by private Muslim investors in Kuwait, Kenya and Tanzania. The bank received a Kenyan commercial banking license the same year, and started operations in June 2008. The FCB is the first Kenya-based bank to operate according to the laws of Sharia. Since the founding of First Community Bank, another Sharia bank, the Gulf African Bank, has also received a commercial license from the Central Bank of Kenya.
The bank's first subsidiary is FCB Takful Insurance Agency, in which it maintains 100% shareholding. The insurance agency was established in 2010. The bank also owns a second subsidiary, FCB Capital Limited, the first Sharia-compliant Investment Bank in Kenya. It also is wholly owned by First Community Bank.
As of August 2014[update], the bank maintains a network of branches at the following locations:
The bank is governed by a seven-person Board of Directors. Hassan Varvani, one of the non-Executive Directors, is the Chairman of the Board. The Managing Director is Nathif Jama Adam and Omar Sheik is the General Manager.
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