Prime Bank (Kenya)

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Prime Bank Kenya
Private
IndustryFinancial Services
Founded1992
HeadquartersNairobi, Kenya
Key people
R.C. Kantaria
Chairman
Bharat Jani
Chief Executive Officer
ProductsLoans, Checking, Savings, Investments, Debit Cards
RevenueIncrease Aftertax:US$16.6 million (KES:1.44 billion) (2013)
Total assetsUS$570 million (KES:49.5 billion) (2013)
WebsiteHomepage
 
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Prime Bank Kenya
Private
IndustryFinancial Services
Founded1992
HeadquartersNairobi, Kenya
Key people
R.C. Kantaria
Chairman
Bharat Jani
Chief Executive Officer
ProductsLoans, Checking, Savings, Investments, Debit Cards
RevenueIncrease Aftertax:US$16.6 million (KES:1.44 billion) (2013)
Total assetsUS$570 million (KES:49.5 billion) (2013)
WebsiteHomepage

Prime Bank (Kenya) Limited (PBKL), commonly known as Prime Bank Kenya, but also referred to as Prime Bank (Kenya), is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by Central Bank of Kenya (CBK), the central bank and national banking regulator.[1]

Overview[edit]

The bank is a medium-sized retail bank that caters to both individuals and corporate clients. As of December 2014, the bank's total asset base was estimated at approximately US$570 million (KES:49.5 billion), with shareholders' equity of about US$67 million (KES:5.816 billion).[2] At that time, the bank ranked number 16, by assets, out of 43 licensed commercial banks in Kenya.[3]

Subsidiaries[edit]

The bank has three subsidiaries:

  1. Prime Capital & Credit Limited (PCCL) – Based in Nairobi, Kenya is owned 100% by Prime Bank (Kenya).
  2. First Merchant Bank – A retail bank based in Blantyre, Malawi – Prime Bank (Kenya) has a 22.48% shareholding in First Merchant Bank. 11.24% is held directly by PBKL while the remaining 11.24% is held through its 100% subsidiary, PCCL.[4]
  3. Capital Bank – A commercial bank based in Gaborone, Botswana, is 51% owned by First Merchant Bank of Malawi, in which Prime Bank (Kenya) has 22.48% shareholding. Therefore Prime Bank (Kenya) owns 11.46% of Capital Bank of Botswana.

Branch network[edit]

As of August 2014, the bank maintains a network of 18 branches in Kenya's major urban centers.[5]

Ownership[edit]

The stock of the bank is privately held. The detailed shareholding in Prime Bank (Kenya) is not publicly known.

Governance[edit]

R. C. Kantaria, a non-executive director of the bank, serves as the Chairman of the seven-member board of directors. Bharat Jani is the chief executive officer of Prime Bank (Kenya).

See also[edit]

References[edit]

  1. ^ CBK, . "Directory of Commercial Banks And Mortgage Finance Companies". Central Bank of Kenya (CBK). Retrieved 5 August 2014. 
  2. ^ PBK, . (17 March 2014). "Audited 31 December 2013 Financial Report". Prime Bank Kenya (PBK). Retrieved 5 August 2014. 
  3. ^ Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. Retrieved 5 August 2014. 
  4. ^ PBK. "Prime Bank Kenya Is A Shareholder In First Merchant Bank of Malawi". Prime Bank Kenya (PBK). Retrieved 5 August 2014. 
  5. ^ PBK, . "The Branch Network of Prime Bank Kenya". Prime Bank Kenya (PBK). Retrieved 5 August 2014. 

External links[edit]