Kenya Commercial Bank Group
| Public | |
| Traded as | KN: |
| Industry | Banking |
| Founded | 1896 |
| Headquarters | Kencom House, Moi Avenue Nairobi, Kenya |
|
Key people
|
Joshua N. Oigara chief executive officer |
| Products | Credit cards, loans, mortgages, investments |
| Revenue |
 US$396.84 Million (KES:35.95 Billion) (2014) |
|
US$186 Million (KES:16.85 Billion) (2014) |
|
| Total assets |
US$5.7 Billion (KES:566.6 Billion) (2015) |
|
Number of employees
|
7,500+ (2015) |
| Website | www |
KCB Group Limited, also known as the KCB Group, is a financial services holding company based in the African Great Lakes region. The Group's headquarters are in Nairobi, Kenya, with its subsidiaries being KCB Bank Kenya Limited, KCB Bank Burundi Limited, KCB Bank Rwanda Limited, KCB Bank South Sudan Limited, KCB Bank Tanzania Limited, and KCB Bank Uganda Limited.
As of December 2015, the Group had assets of KES:566.6 billion and shareholders' equity of KES:78.1 billion.
In July 2015, news media reported that the group was pursuing expansion plans into the Democratic Republic of the Congo, Ethiopia, and Mozambique.
The history of Kenya Commercial Bank Limited dates back to July 1896, when its predecessor, the National Bank of India (NBI), opened a branch in Mombasa to handle the business that the port was attracting at that time.
In 1958, Grindlays Bank merged with the NBI to form the National and Grindlays Bank (NGB). Upon independence, the government of Kenya acquired 60 percent shareholding in NGB in an effort to bring banking closer to the majority of Kenyans. In 1970, the government acquired 100 percent of the shareholding in NGB to take full control of the largest commercial bank in Kenya. NGB was then renamed Kenya Commercial Bank (KCB). In 1972, KCB acquired Savings & Loan Kenya Limited, which specialized in mortgage finance.
In 1988, the first 20 percent of the government's shares in the company were sold through an Initial public offering on the Nairobi Securities Exchange. The government has over the years reduced its shareholding to 23.6 percent. In the rights issue of 2010, the government further reduced its shareholding to 17.31 percent.
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