Development Bank of 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 licensed by the Central Bank of Kenya, the

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.

Overview

Development Bank of Kenya is a medium-sized financial institution providing an array of financial services to both individuals and businesses. , the total asset valuation of the bank was approximately US$180 million (KES:15.58 billion), with shareholder's equity of about US$21 million (KES:1.822 billion). At that time, the bank was ranked number 26, by assets, among the 43 licensed banks in Kenya.

History

Development Bank of Kenya was established in 1963 as a non-banking financial institution. Its primary focus at that time was to promote and develop commercially viable projects in

. In 1964, it began financing development projects as a development finance institution. As part of the banking reforms of 1996, it converted to a commercial bank and began accepting customer deposits.

Ownership

Shareholding in Development Bank of Kenya at its inception included (a) the

Government of Kenya The Government of the Republic of Kenya (GoK) is the Central government, national government of the Kenya, Republic of Kenya located in East Africa. It is composed of Counties of Kenya, 47 Counties, each county with its own semi-autonomous gove ...

, through the Industrial and Commercial Development Corporation, (b) the

British Government His Majesty's Government, abbreviated to HM Government or otherwise UK Government, is the central government, central executive authority of the United Kingdom of Great Britain and Northern Ireland.

, through Commonwealth Development Corporation and (c) the

Government of Germany The Federal Government (, ; abbr. BReg) is the chief Executive (government), executive body of the Germany, Federal Republic of Germany and exercises executive power at the Federal level (Germany), federal level. It consists of the Chancellor ...

, through the German Investment Corporation. In 1967, the

Dutch Government The Netherlands is a parliamentary representative democracy. A constitutional monarchy, the country is organised as a decentralised unitary state.''Civil service systems in Western Europe'' edited by A. J. G. M. Bekke, Frits M. Meer, Edward E ...

, through the Netherlands Development Finance Company, became the fourth shareholder. In 1981, the

World Bank The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...

, through the

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution headquartered in Washington, D.C. and a member of the World Bank Group that offers investment, advisory, and asset-management services to encourage private ...

, became the fifth shareholder. Over the years, the non-Kenyan shareholders have divested from the bank and shareholding as depicted in the table below:

Branch network

, the bank 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's capital and largest city. It has one branch on the ground floor of its headquarters building. * Main branch - Finance House, Loita Street,

References

External links