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NCBA Bank Kenya, whose full name is NCBA Bank Kenya Plc, is a
commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...
in Kenya. It is licensed by the
Central Bank of Kenya The Central Bank of Kenya (CBK) () is the monetary authority of Kenya. Its head office is located in Nairobi. CBK was founded by in 1966 after the dissolution of East African Currency Board (EACB). Dr. Kamau Thugge, CBS is the current Governor a ...
, the country's
central bank A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...
and national banking regulator.


Location

The bank's headquarters are located at NCBA Centre, at the junction of Mara Road and Ragati Road, in the neighborhood called Upper Hill, in
Nairobi Nairobi is the Capital city, capital and largest city of Kenya. The city lies in the south-central part of Kenya, at an elevation of . The name is derived from the Maasai language, Maasai phrase , which translates to 'place of cool waters', a ...
, the capital city of Kenya. The geographical coordinates of the group's headquarters are:01°17'52.0"S, 36°48'46.0"E (Latitude:-1.297778; Longitude:36.812778).


Overview

NCBA Bank Kenya is a subsidiary of
NCBA Group Plc NCBA Group Plc, is a financial services conglomerate (company), conglomerate in East Africa, East and West Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Uganda and Ivory Coast. Lo ...
, a large financial services provider in East Africa, and parts of West Africa. The group maintains its headquarters in
Nairobi Nairobi is the Capital city, capital and largest city of Kenya. The city lies in the south-central part of Kenya, at an elevation of . The name is derived from the Maasai language, Maasai phrase , which translates to 'place of cool waters', a ...
, Kenya. NCBA Group Plc owns subsidiary companies in Kenya, Uganda, Tanzania, Rwanda and the Ivory Coast. , NCBA Bank's total asset base was valued at about KSh487.8 billion (US$4.88 billion). At that time, the bank was ranked in position number three, by total assets, behind
KCB Bank Kenya Limited     KCB Bank Kenya Limited is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the national banking regulator. The bank has also been running an agency banking m ...
and
Equity Bank Kenya Limited Equity Bank Kenya Limited is a Kenyan bank and financial services provider headquartered in Nairobi providing retail banking and commercial banking services. The bank is licensed as a commercial bank by the Central Bank of Kenya, which is the n ...
.


History

NIC Bank Kenya Plc roots trace back to 1959 when its parent company, NIC Group, was formed as a joint venture by
Standard Bank Limited Standard Bank PLC is a private commercial bank in Bangladesh. Kazi Akram Uddin Ahmed is the founder chairman of the bank and Kamal Mostafa Chowdhury is the founder vice-chairman of the bank. History The bank was founded on 3 June 1999, with an ap ...
of South Africa and Mercantile Credit Company Limited of the United Kingdom. NIC was initially a
non-bank financial institution A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that is not legally a bank; it does not have a full banking license or is not supervised by a national or international banking regulator ...
(NBFI). NIC Bank Kenya Plc was incorporated in 2016 as a result of the corporate reorganization of NIC Bank Group. Prior to January 2017, NIC Bank Group operated both as a licensed bank and a holding company for its subsidiaries. On 12 September 2016, NIC Bank Group announced its intention to incorporate a new wholly owned subsidiary, NIC Bank Kenya Plc, to which it would transfer its Kenyan banking business, assets and liabilities. The rationale for the re-organisation is that by converting NIC Bank Group into a non-operating holding company (as defined under the Banking Act) that owns both banking and non-banking subsidiary companies in order to support the Group’s medium and long term strategy. The group reorganization was completed on 31 August 2017 upon approval from shareholders and the regulators. In 2017, the Central Bank of Kenya appointed NIC Bank as asset and liabilities consultant for
Imperial Bank Limited Imperial Bank Limited commonly known as Imperial Bank, is a commercial bank in Kenya, the largest economy in the East African Community. It is one of the forty-three commercial banks licensed by the Central Bank of Kenya, the central bank and n ...
(in receivership). Effectively, NIC Bank took over the responsibility of returning funds to the failed bank's deposit customers. The agreement also allows NIC to acquire some of the deposits, assets and liabilities of Imperial once its receiver manager the
Kenya Deposit Insurance Corporation Kenya Deposit Insurance Corporation is a statutory institution established under the Kenya Deposit Insurance Act, 2012 (KDI Act, 2012). The Corporation is mandated to provide a deposit insurance scheme for customers of member institutions, to pro ...
starts liquidating the bank. In December 2018, NIC Group announced that it would be merging with
Commercial Bank of Africa Group 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, Rwanda, Tanzania, Uganda and Ivory Coast. The CBA Group is a large financial ...
(CBA) creating Kenya's third-biggest bank, by assets. The transaction was approved by the Kenyan regulators and shareholders in April 2019. CBK announces the merger of Commercial Bank of Africa Limited (CBA) and NIC Group PLC (NIC) effective September 30, 2019. As of 18 May 2019, the merged group was still operating two sets of banks in Kenya, Uganda and Tanzania but was in the process of seeking regulatory approval to merge these business so that they can have one bank in each country and a group rebranding. On 27 September 2019, the Central Bank of Kenya approved the merger and name changes, effective 1 October 2019. The merged non-banking holding company became
NCBA Group Plc NCBA Group Plc, is a financial services conglomerate (company), conglomerate in East Africa, East and West Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Uganda and Ivory Coast. Lo ...
and the Kenyan subsidiary of the merged entity became NCBA Bank Kenya Plc. The names of the merged entity in Tanzania, Rwanda, Uganda and Ivory Coast will re-brand accordingly.


Branch network

As of 28 February 2020, NCBA Bank Kenya maintained 64 networked branches and 5 banking agencies in Kenya. NCBA Bank's partnership with the Kenya Post Office Savings Bank enables the provision of cash collection services for its customers through Postbank’s network of 94 branches in Kenya.


NCBA Group

Members of the
NCBA Group Plc NCBA Group Plc, is a financial services conglomerate (company), conglomerate in East Africa, East and West Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Uganda and Ivory Coast. Lo ...
include the following. # NCBA Bank Kenya – ''
Retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ...
'' –
Nairobi Nairobi is the Capital city, capital and largest city of Kenya. The city lies in the south-central part of Kenya, at an elevation of . The name is derived from the Maasai language, Maasai phrase , which translates to 'place of cool waters', a ...
, Kenya 100% Shareholding # NCBA Capital – ''
Investment banking Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by und ...
'' –
Nairobi Nairobi is the Capital city, capital and largest city of Kenya. The city lies in the south-central part of Kenya, at an elevation of . The name is derived from the Maasai language, Maasai phrase , which translates to 'place of cool waters', a ...
, Kenya 100% Shareholding # NCBA Capital Securities – ''
Securities brokerage A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither ...
'' –
Nairobi Nairobi is the Capital city, capital and largest city of Kenya. The city lies in the south-central part of Kenya, at an elevation of . The name is derived from the Maasai language, Maasai phrase , which translates to 'place of cool waters', a ...
, Kenya – 100% Shareholding # NCBA Bank Tanzania – ''
Retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ...
'' –
Dar es Salaam Dar es Salaam (, ; from ) is the largest city and financial hub of Tanzania. It is also the capital of the Dar es Salaam Region. With a population of over 7 million people, Dar es Salaam is the largest city in East Africa by population and the ...
, Tanzania 69% Shareholding # NCBA Bank Uganda – ''
Retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ...
'' –
Kampala Kampala (, ) is the Capital city, capital and largest city of Uganda. The city proper has a population of 1,875,834 (2024) and is divided into the five political divisions of Kampala Central Division, Kampala, Kawempe Division, Kawempe, Makindy ...
, Uganda 100% Shareholding. #
NCBA Bank Rwanda NCBA Bank Rwanda, formerly ''Commercial Bank of Africa (Rwanda)'', is a commercial bank in Rwanda. NCBA Bank Rwanda is one of the Kenyan-owned bank subsidiaries to launch operations in Rwanda. The bank is a subsidiary of the NCBA Group Plc, a ...
: ''Retail banking '':
Kigali Kigali () is the Capital (political), capital and largest city of Rwanda. It is near the nation's geographic centre in a region of rolling hills, with a series of valleys and ridges joined by steep slopes. As a primate city, Kigali is a relativ ...
, Rwanda 100% Shareholding # M-Shwari Mobile Banking: Mobile money bank service:
Abidjan Abidjan ( , ; N'Ko script, N'ko: ߊߓߌߖߊ߲߬) is the largest city and the former capital of Ivory Coast. As of the Demographics of Ivory Coast, 2021 census, Abidjan's population was 6.3 million, which is 21.5 percent of the overall population ...
, Ivory Coast Joint Venture with
MTN Group MTN Group Limited (formerly M-Cell) is a South Africa, South African multinational corporation and mobile telecommunications provider. Its head office is in Johannesburg. MTN is among the List of mobile network operators, largest mobile netwo ...
.


Governance

The activities of NCBA Bank Kenya are directed by eleven board of directors. The managing director is assisted by 10 other senior Officers in supervising the day-to-day activities of the Bank.


See also

*
List of banks in Kenya This is a list of commercial banks and other licensed credit institutions in Kenya, as updated mid-2023 by the Central Bank of Kenya. List of commercial banks * Absa Bank Kenya, Absa Bank Kenya PLC, part of Absa Group * Access Bank Kenya, Access ...
*
Central Bank of Kenya The Central Bank of Kenya (CBK) () is the monetary authority of Kenya. Its head office is located in Nairobi. CBK was founded by in 1966 after the dissolution of East African Currency Board (EACB). Dr. Kamau Thugge, CBS is the current Governor a ...
*
Economy of Kenya The economy of Kenya is market-based with a few state enterprises. Kenya has an emerging market and is an averagely industrialised nation ahead of its East African Community, East African peers. Currently a lower middle income nation, Kenya plan ...


References


External links


Official Website
{{Banking in Kenya Banks of Kenya Banks established in 1959 Companies based in Nairobi NCBA Group Plc Kenyan companies established in 1959