Commercial Bank of Africa Group

Commercial Bank of Africa Group

Industry	Banking, Finance
Founded	1962
Headquarters	Upper Hill, Nairobi, Kenya
Key people	Mirabeau Da Gama Rose, Group Chairman Isaac Awuondo, Group CEO
Products	Banks
Revenue	Aftertax: US$17+ million (2009)
Total assets	US$830+ million (2009)
Employees	470+
Website	Homepage

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 and Tanzania.

Location

The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, and Tanzania. The flagship company of the group is Commercial Bank of Africa, with headquarters in Upper Hill, an upscale suburb of Nairobi, Kenya's capital and largest city.

Overview

As of November 2011, the CBA Group is a large financial services provider in East Africa, with an asset base estimated at over US$900 million (KES:9 billion).^[1]

Group members

The companies that comprise of the CBA Group include:

• Commercial Bank of Africa - Nairobi, Kenya - 100% Shareholding
• Commercial Bank of Africa (Tanzania) - Dar es Salaam, Tanzania - 100% Shareholding
• Commercial Bank of Africa (Uganda) - Kampala, Uganda - Comimng soon^[2]

History

Commercial Bank of Africa was established in 1962 in Dar es Salaam, Tanzania. Branches of the bank were established in Nairobi and Mombasa, Kenya. Another branch was opened in Kampala, Uganda. When Tanzania nationalized all commercial banks in 1967, the bank moved its headquarters to Nairobi. In 1971, the Ugandan operation was sold due to the then prevailing political instability in the country. In July 2005, Commercial Bank of Africa (CBA) acquired majority shareholding in First American Bank of Kenya. At that time First American owned a subsidiary in Tanzania called United Bank of Africa.^[3] In 2007, United Bank of Africa changed its name to Commercial Bank of Africa (Tanzania). That is how the CBA Group was formed.^[4]

External links

• Website of Commercial Bank of Africa
• Website of Commercial Bank of Africa (Tanzania)

See also

• Commercial Bank of Africa
• Commercial Bank of Africa (Tanzania)
• List of banks in Kenya
• List of banks in Tanzania
• Economy of Kenya
• Economy of Tanzania

References

1. ^ Estimated Asset Base Exceeds US$900 Million
2. ^ Commercial Bank of Africa To Enter Uganda Soon
3. ^ CBA Acquired Majority Shareholding in First American Bank of Kenya In 2005
4. ^ United Bank of Africa Renamed Commercial Bank of Africa (Tanzania) In 2007