Kingdom Bank Limited (Kenya), formerly Jamii Bora Bank, 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 one of the commercial banks 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 national banking regulator.

Location

The headquarters of the bank are located at Kingdom Towers (formerly Jamii Bora Towers), along Argwings Kodhek Road, in

Kilimani Kilimani is a mixed-use commercial and residential neighbourhood in the city of Nairobi. Location Kilimani is located approximately west of Nairobi's central business district, within Westlands Sub-county. It is north of Woodley; east of K ...

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 ...

, approximately , by road, west of the city centre. The geographical coordinates of the bank's headquarters are:01°17'35.0"S, 36°47'23.0"E (Latitude:-1.293056; Longitude:36.789722).

History

The bank was founded as a charitable trust by 50 destitute families on the streets of

, Kenya's capital and largest city. In March 2010, it merged with another financial institution with a banking license and transformed into a fully fledged commercial bank. In March 2010, Jamii Bora merged with City Finance Bank (CFB), a small private financial services provider which, in the past, had provided services to large corporations and high-net-worth individuals. In the merger, CFB acquired JBB and took on the name of its new acquisition. Other investors in the bank include Baraka Africa Fund (BAF), and other individual investors. In March 2020, Co-operative Bank of Kenya, the country's fourth-largest commercial bank, with nearly 10 percent market share of national banking assets, proposed the acquisition of Jamii Bora Bank. Kingdom Bank was finally acquired and is a subsidiary of the Co-operative Bank of Kenya since its acquisition in August 2020, is dedicated to fostering the financial growth of MSMEs in Kenya including youth and women-owned enterprises. The bank has a network of 23 branches, and is expanding.

Assets

In March 2018, the bank's total assets were valued at approximately KSh12.5 billion (US$117 million). As of December 2023, the bank had total assets of Ksh 36.7 billion, profit before tax amounting to Ksh 1.08 billion, with interest income reaching Ksh 3.7 billion and non-interest income standing at Ksh 533.7 million.

Ownership

Jamii Bora Bank is privately owned. A rights issue of US$4 to 6 million was successfully executed in the 4th quarter of 2010. In November 2011, a new consortium known as Asterisk Holdings, invested KES:410 million (approx:US$4.6 million) in Jamii Bora Bank. Following the acquisition of 90 percent shareholding in the stock of the bank by Cooperative bank of Kenya, the bank ownership was as depicted in the table below, as of August 2020.

Acquisition

In March 2020, Co-operative Bank of Kenya, the fourth-largest commercial bank in the country, began the process of acquiring 100 percent shareholding in Jamii Bora Bank. The process required regulatory approvals. On 7 August 2020, Cooperative Bank received all the necessary regulatory approvals to acquire 90 percent shareholding in Jami Bora Bank. On 25 August 2020, the bank re-branded to Kingdom Bank Kenya Limited.

Branches

, the bank maintained a network of branches at the following locations: # Koinange Branch - Jamii Bora House, Muindi Mbingu Street,

# Ongata Rongai Branch:

Ongata Rongai Ongata Rongai (also known as Ronga in local slang) is a town located in Kajiado North, Kajiado County, Kenya. The town is situated south of the Nairobi CBD, East of the Ngong hills, and within the greater Nairobi Metropolitan Region. It li ...

# Thika Branch: Kenyatta Avenue,

Thika Thika () is an industrial town and commerce hub in Kiambu County, Kenya, lying on the A2 road , northeast of Nairobi, near the confluence of the Thika and Chania Rivers. Although Thika town is administratively in Kiambu County, the greater ...

# Kikuyu Branch: Brick House,

Kikuyu Kikuyu or Gikuyu (Gĩkũyũ) mostly refers to an ethnic group in Kenya or its associated language. It may also refer to: *Kikuyu people, a majority ethnic group in Kenya * Kikuyu language, the language of Kikuyu people *Kikuyu, Kenya, a town in Cen ...

# Kisumu Branch: Mega Plaza, Oginga Odinga Street,

Kisumu Kisumu ( ) is the third-largest city in Kenya located in the Lake Victoria area in the former Nyanza Province. It is the second-largest city after Kampala in the Lake Victoria Basin. The city has a population of slightly over 600,000. The ...

# Kayole Branch: Kayole,

# Nyeri Branch: Naivas Mall,

Nyeri Nyeri is a town situated in the Central Highlands of Kenya. It is the county headquarters of Nyeri County and was the central administrative headquarters of the country's former Central Province (Kenya), Central Province. The town is situated a ...

# Mtwapa Branch -

Mtwapa Mtwapa is a town located in Kenya's Kilifi County. It is situated north of Mombasa on the Mombasa-Malindi road. It is close to the Mombasa Marine National Park and Reserve and Jumba la Mtwana. Two informal settlements in Mtwapa, Majengo and ...

# Mombasa Branch: Southern House, Moi Avenue,

Mombasa Mombasa ( ; ) is a coastal city in southeastern Kenya along the Indian Ocean. It was the first capital of British East Africa, before Nairobi was elevated to capital status in 1907. It now serves as the capital of Mombasa County. The town is ...

# Kawangware Branch: Mbugua Plaza Junction,

Kawangware Kawangware () is a low income residential area in Nairobi, Kenya, about 15 km west of the city centre, between Lavington and Dagoretti. Description According to the 2009 Kenya Population and Housing Census, Kawangware's population was 133, ...

# Kilimani Branch: Jamii Bora House, Argwings Kodhek Road, Nairobi # Kirinyaga Road Branch: Kirinyaga Road, Nairobi # Kitengela Branch:

Kitengela Kitengela is a municipality in the Kajiado County of Kenya, located 34 Kilometres south of the capital Nairobi, forming part of the greater Metropolitan Area. Kitengela began as The Kitengela group ranch, made up of 18,292 ha and 214 registere ...

# Kiambu Branch:

Kiambu Kiambu is a town in Kiambu County, Kenya. It is from the national capital, Nairobi. It is the capital of Kiambu County, which bounds the northern border of Nairobi. Other proximate towns are Ruiru, Gatundu, Limuru and Kabete. Administr ...

# Wangige Branch: Wanie,

Kiambu County Kiambu County is a county in the former Central Province of Kenya. Its capital is Kiambu and its largest town is Thika town. Kiambu County is the second most populous county in Kenya after Nairobi County. Kiambu County borders Nairobi and Kaji ...

# Utawala Branch: Utawala, Nairobi # Nakuru Branch:

Nakuru Nakuru (nicknamed Nax) is a city in the Rift Valley region of Kenya. It is the capital of Nakuru County, and it is the fourth largest city in Kenya and the largest in the Rift Valley region. As of 2019, Nakuru had an urban population of 570, ...

# Kisii Branch:

Kisii Kisii may refer to: * Kisii, Kenya, a municipality and the capital of Kisii County * Kisii County, one of the 47 counties of Kenya * Kisii District, a former district of Kenya * Gucha District, in Kenya, also known as ''South Kisii District'' * Nya ...

Governance

The five-person

board of directors A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulatio ...

is chaired by Margaret Karangatha. Other board members are Gideon Muriuki, the Cooperative Bank Group managing director, Macloud Malonza, Julius Sitienei and Anthony Mburu, the Kingdom Bank CEO.

References

External links

Website of Kingdom Bank Limited

Website of Jamii Bora Bank

Website of Central Bank of Kenya

Case study of Jamii Bora Bank

* ttp://www.businessdailyafrica.com/Corporate+News/Jamii+Bora+profit+jumps+129pc+on+loan+book+growth+/-/539550/1964184/-/q3ec3gz/-/index.html Jamii Bora Profit Jumps 129 Percent On Loan Book Growth
The Resilience Of Kenyan Banking Sector
{{Nairobi Banks of Kenya Companies based in Nairobi 1999 establishments in Kenya Banks established in 1999