Consolidated Bank of Kenya

Consolidated Bank of Kenya

Type	Parastatal
Industry	Financial Services
Founded	1989
Headquarters	Nairobi, Kenya
Key people	Eunice W. Kagane Chairman Ndegwa Wachira Managing Director
Products	Loans, Checking, Savings, Investments, Debit Cards
Revenue	: Pretax: US$2.0 million (2010)
Total assets	US$120.7 million (2010)
Website	Homepage

Consolidated Bank of Kenya, commonly known as Consolidated Bank, is a commercial bank in Kenya. It is one of the forty four (42) licensed commercial banks in the East African country.^[1]

Overview

Consolidated Bank is a medium-sized financial services provider in Kenya, focusing on meeting the banking needs of small and medium-sized enterprises in the country. As of December 2010^[update], the total asset valuation of the bank was approximately US$120.7 million (KES:10.4 billion), with a loan book of approximately US$70 million (KES:6 billion).^[2]

History

The bank was incorporated in 1989, as a result of the merger of nine (9) insolvent financial institutions. Consolidated Bank aims to meet the banking needs of both individuals and institutions.^[3]

Ownership

The bank is 100% owned by the Government of Kenya. 51% shareholding is by the Treasury Department, while the remaining 49% is owned by twenty five (25) Kenyan parastatal organizations.^[4] The bank's stock is owned by the following subsidiaries of the Government of Kenya

Consolidated Bank Stock Ownership

Rank Name of Owner Percentage Ownership 1 Treasury Department of Kenya 51.00 2 25 Kenya Government Parastatals 49.00 Total 100.00 Branch Network As of August 2010, Consolidated Bank maintains twelve (12) branches in urban areas of Kenya. Three more branches are planned for opening in 2010[5] The locations of the bank's branches include:[6] Head Office - Koinange Street, Nairobi Harambee Avenue Branch - Harambee Avenue, Nairobi Umoja Branch - Sony House, Kangundo Road, Nairobi Mombasa Branch - Nkrumah Road, Mombasa Thika Branch - Witeithie House, Nkrumah Road, Thika Nyeri Branch - Konahauthi House, Nyeri Embu Branch - Embu Isiolo Branch - Isiolo Maua Branch - Maua Meru Branch - Meru Muranga Branch - Muranga Laare Branch - Maua See also List of banks in Kenya Central Bank of Kenya Economy of Kenya References ^ List of Licensed Commercial Banks In Kenya ^ Consolidated Bank Focuses On SMEs ^ History of Consolidated Bank ^ Ownership of Consolidated Bank of Kenya ^ Consolidated Bank Has Twelve Branches ^ The Branch Net Work of Consolidated Bank External links Consolidated Bank Homepage