Bank of Africa Kenya Limited (BOA Kenya) 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 ...

Kenya Kenya, officially the Republic of Kenya, is a country located in East Africa. With an estimated population of more than 52.4 million as of mid-2024, Kenya is the 27th-most-populous country in the world and the 7th most populous in Africa. ...

. It is one of the commercial banks licensed by

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 the national banking regulator.

Overview

BOA Kenya is a mid-tier bank and is ranked 15th out of the 42 commercial banks in Kenya by the CBK. The bank provides banking services to corporations, SMEs, investment groups, and individuals. As at 31 December 2019, the bank's total assets were valued at KES:43.996 billion (US$403.27 million), with shareholders' equity valued at KSh4.28 billion (approx. USD39.2 million. The bank's customer base was in excess of 100,000, as of March 2016.

History

The Bank traces its roots from Calyon Bank (formally

Credit Agricole Indosuez Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), ...

) which was founded in 1981. In April 2004, Groupe Bank of Africa (BOA Group) acquired the operations of Credit Agricole Indosuez in Kenya and incorporated them into its newly formed subsidiary BOA Kenya. This transaction was completed on June 30, 2004. BOA Kenya has invested in BOA Uganda (52.72%), making it a subsidiary and a 24.1% stake in BOA Tanzania, making it an associate.

Ownership

BOA Kenya is a member of the

Mali Mali, officially the Republic of Mali, is a landlocked country in West Africa. It is the List of African countries by area, eighth-largest country in Africa, with an area of over . The country is bordered to the north by Algeria, to the east b ...

based

Bank of Africa Group Bank of Africa (BOA) is a Moroccan international financial services group headquartered in Casablanca, Morocco. It was formed through the 2010 acquisition of Bank of Africa (est. 1982 in Mali) by the Banque Marocaine du Commerce Extérieur (BMCE, ...

. , shareholding in the bank's stock was as depicted below: Note: * Bank of Africa Group is a subsidiary of Moroccan based Banque Marocaine du Commerce Exterieur.

Governance

BOA Kenya is governed by a ten-person board of directors with Dennis Awori as chairman and Ronald Marambii as managing director.

References

{{Banking in Kenya Banks of Kenya Banks established in 2004 2004 establishments in Kenya

Overview

History

Ownership

Governance

See also

References